Decentralized Ethereum 2.0 staking protocol SharedStake has a developer on the loose that used the admin key and exploited the protocol’s governance token SGT.
As the price of SGT plummets 95%, other team members are urging users to withdraw all funds and wait for further updates.
Rug pull
While warning users to exit SharedStake’s liquidity mining contracts and the Saddle pool ETH-vETH2, the team said it identified the developer responsible for the exploit.
PSA: A rogue dev from SharedStake has pulled the rug. Withdraw all SGT and vETH2 liquidity ASAP. pic.twitter.com/DjmZwQBnGe
— Mudit Gupta (@Mudit__Gupta) June 23, 2021
Saddle is an automated market maker for trading between pegged value cryptos and seems to have its contracts unaffected. Even though vETH2, a yield-bearing token with a 1:1 price ratio to Ethereum, is still safe, the loss of confidence in SharedStake spurred fears that the incident could lead to vETH2 losing peg.
Several people raised red flags about the p
Źródło: https://cryptoslate.com/developer-rug-pulls-ethereum-defi-project-sharedstake-sgt-token-falls-95/
