An attacker was able to get control of the Shido blockchain’s Ethereum staking contract and transfer out billions of Shido tokens,according to PeckShield. The token for the layer 1 blockchain Shido dropped as much as 94% in just 30minutes after suffering an exploit. Blockchain security firm PeckShield alerted to the drop in a Feb. 29 X post.In a follow-up post, it explained an exploiter managed to transfer the blockchain’s Ethereum staking contract to another address with the new owner then upgrading the contract with a hidden function to withdraw staked tokens. PeckShield said the attacker had withdrawn over 4.3 billion Shido tokens—nearly half of the almost 9 billion circulating token supply,per CoinGecko data. Before the price drop,those tokens were worth around $35 million. X user“Wazz"said the exploiter funded the attack using multiple bridges but couldn't further track the pilfered funds, warning others not to buy as the attacker still had Shido tokens. Source-CoinTelegraph