Shido token dives over 90 Percent after Ethereum staking contract exploit

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Shido token dives over 90 Percent after Ethereum staking contract exploit

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Tracy D'souza crypto

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Feb 29, 2024 0 min read

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The U.S. Securities and Exchange Commission (SEC) revealed suspicious movements of Terraform Labs’ funds. According to Reuters, the SEC discovered a payment of $166 million to the company’s lawyers from Terraform Labs. The exact date of the regulator’s statement is unknown. The commission found that 90 days before the bankruptcy, the Dentons firm received $122 million from Terraform Labs. Later, the law firm received another $44 million from the company. The agency believes the funds could have been transferred to a so-called “opaque fund” with the expectation of using them to finance a legal battle with the SEC.

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Shido token dives over 90 Percent after Ethereum staking contract exploit

Shido token dives over 90 Percent after Ethereum staking contract exploit

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