The Shido blockchain's Ethereum staking contract was breached, resulting in the theft of billions of Shido tokens.

The security compromise led to a 94% devaluation of the Shido token within half an hour.

An attacker managed to withdraw over 4.3 billion Shido tokens, translating to an estimated loss of $35 million.

The attack was conducted through the use of multiple bridges, which facilitated the transfer of the stolen tokens.

Recent similar incidents with SenecaUSD and Serenity Shield underscore the ongoing security risks in the cryptocurrency sector.

The Shido team is taking measures to reimburse users impacted by the breach and is currently investigating the incident.

Users are cautioned against purchasing Shido tokens at this time due to the attacker's possession of a large quantity.

Further updates on the situation will be shared as new information emerges.