SharedStake
Summary
SharedStake is an Ethereum liquid staking protocol launched in January 2021 that allowed users to deposit ETH in exchange for the vETH2 liquid staking token. In June 2021, a co-founder using the pseudonym 'Kairos' exploited a critical timelock bypass vulnerability in the protocol's vesting contracts — a bug that had been disclosed to the team two months prior — draining approximately $128,000 from liquidity providers and sending 100 ETH through Tornado Cash. The protocol subsequently relaunched as SharedDeposit v2 under remaining team members, though the SGT governance token never recovered.
Connected Entities
1 entities- + 3 more
Timeline(12 events)
2021-01-01
SharedStake founded by pseudonymous co-founders Kairos, Chimera, and Ice Bear as an Ethereum 2.0 staking protocol.
2021-04-26
Whitehat researcher Lucash-dev reports critical timelock bypass vulnerability in SmartTimelock.sol to Immunefi.
2021-04-29
SharedStake team confirms the bug and pays Lucash-dev a $5,000 bug bounty.
2021-05-20
SharedStake requests a fix from Immunefi for the disclosed vulnerability.
2021-06-16
Fix delivered privately to SharedStake. Team grants a new team member (alleged to be the exploiter) access to the full bug report.
2021-06-19
Kairos tests the timelock exploit on mainnet — first on-chain exploitation of the vesting contract vulnerability.
2021-06-21
Kairos sells over $35,000 worth of SGT from the deployer address without team approval, initiating what Chimera later described as a 'slow rug pull.'
2021-06-23
Chimera discovers unauthorized sales. Kairos becomes hostile when confronted. Chimera defensively drains vulnerable contracts (81 WETH + $54,000 USDC). Kairos front-runs Chimera's transactions to steal an additional $93,000. SGT price collapses ~95%. Team urges all users to exit liquidity positions.
2021-06-24
Kairos sends 100 ETH to Tornado Cash to obscure stolen funds. Recovery negotiations begin. Chimera agrees to return defensively drained funds; Kairos refuses.
2021-06-28
New developers hired to secure the protocol. Community-controlled 4-of-5 multisig established.
2021-07-24
Reimbursement airdrop completed: 101 vETH2 distributed to SGT-vETH2 LPs (~90% recovery) and 30 ETH to SGT-ETH LPs (~35% recovery).
2022-01-01
Protocol relaunches as SharedDeposit v2 with redesigned zero-trust architecture and phased rollout. V1 ETH deposits and yield returned to users.
Decision Log
- hash: 27fxx3UbsLjNKhyawa4KxDWj1HDfqCpLnrAKwrCoaoGo
This investigation is cryptographically anchored to the Solana blockchain and source URLs are archived via the Internet Archive.
model: claude-sonnet-4-6
generated: 5/4/2026, 2:54:38 AM
last updated: 5/30/2026, 11:47:51 AM
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