Stars Arena Hack: $3M in AVAX Tokens Drained


Security Breach Hits New Web3 Social App

Avalanche-based Stars Arena is reeling from a massive security breach that drained the platform of approximately $3 million worth of AVAX tokens. The attack exploited a smart contract, leaving the platform with a meager balance of less than $1.


An Unexpected Attack


Attackers Exploit Smart Contract

The exploit was first detected when X user @0xLawliette raised concerns. Another user, @0xlilitch, further warned of potential security vulnerabilities. Stars Arena developers eventually confirmed the attack. The platform, just over a week old, had already garnered a dedicated following among the Avalanche community.


Security Vulnerabilities


The Risk of Volatile “Shares”

Stars Arena offered a mechanism similar to Ethereum’s Friend.Tech, allowing users to purchase “shares” of popular X users for access to exclusive chatrooms. The value of these shares fluctuated wildly, turning them into tradeable assets for some users.


Rebuilding Trust


Recovering from a Crypto Crisis

While some Ava Labs employees had praised the platform, the security exploit struck a blow to user trust. The team promised a fix, but it underscored the broader issues of security lapses in crypto markets.


Stars Arena’s Resilience


Preparing for the Road Ahead

Despite the exploit and a distributed denial-of-service (DDoS) attack on its website, Stars Arena is determined to recover and secure its platform. The team has assured the community that funds will be recovered as they work on a more secure future.


Stay informed about the latest updates and developments in the gaming and blockchain space. Join our community of and blockchain enthusiasts to be part of the exciting journey ahead

No comment

Leave a Reply

Your email address will not be published. Required fields are marked *