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Shido

avoid.net/shido→22/100·78% conf.
[AI-DRAFTED · AWAITING VERIFICATION][src:defillama]
anchored·3iSJ5q…zibo

Summary

Shido Network (SHIDO) is a Layer-1 proof-of-stake blockchain project founded in Sweden in 2021. On February 29, 2024, an attacker exploited the Ethereum-based SHIDO staking contract by transferring ownership to a new address and upgrading it with a hidden token-withdrawal function, draining over 4.3 billion tokens and causing the price to collapse 94% within 30 minutes. On-chain investigator ZachXBT linked the exploit to a serial hacker responsible for the OKX (December 2023) and Concentric Finance (January 2024) hacks, with the attack vector in each case being private key compromise via social engineering.

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    Timeline(7 events)

    2021-01-01

    Shido Network founded in Bromma, Sweden by Bjorn Bonnevier and Edin Maloku.

    2023-12-01

    OKX exploit (~$2.7M) occurs; ZachXBT would later allege on-chain links to the Shido attacker.

    2024-01-22

    Concentric Finance hacked for approximately $1.8M via social engineering / malware attack on a team member with deployer wallet access.

    2024-02-24

    Shido announces mainnet launch scheduled for the following week.

    2024-02-29

    Shido Ethereum staking contract exploited: ownership transferred, hidden withdrawToken() function introduced, 4.35 billion SHIDO tokens (~$3.3M realized) drained. Token price collapses 94% within 30 minutes. PeckShield publicly discloses the breach.

    2024-02-29

    ZachXBT traces exploiter funding through Across protocol (Arbitrum) and Layerswap; identifies alleged link to OKX and Concentric Finance hacks via shared attacker infrastructure.

    2024-02-29

    Shido team replaces compromised deployer address, suspends DEX liquidity provisioning, contacts CEXs to freeze associated tokens, and promises to refund all stakers.

    Provenance & Audit Trail
    Anchored on SolanaVerify on-chainsrc:defillama

    Decision Log

    This investigation is cryptographically anchored to the Solana blockchain and source URLs are archived via the Internet Archive.

    full audit log →version history →

    model: claude-sonnet-4-6

    generated: 5/4/2026, 2:54:34 AM

    last updated: 5/28/2026, 8:10:48 AM

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