Social Protocol Stars Arena Hacked for Approximately $2.9 Million, to Resume After Audit
WikiBit 2023-10-08 15:06
Stars Arena is a replica project of the social platform Friend.tech. During its rapid development, a contract vulnerability led to the theft of funds.
Stars Arena is a SocialFi protocol built on the AVAX-C chain, designed as an emulation of the recent trending SocialFi project, Friend.tech, with some differences in details. At one point, Stars Arena's daily income even surpassed that of Friend.tech, reaching a peak TVL of $2.9 million.
On October 7th, Stars Arena posted a message on the X platform stating: 'Critical security vulnerability detected in the smart contract, please refrain from depositing any funds.
According to statistics from PeckShield, Stars Arena suffered a loss of approximately $2.9 million, with all assets being in the form of AVAX.
The latest official update from Stars Arena states that they have secured resources to compensate for the losses incurred due to the breach. A specialized white-hat team will be involved in reviewing platform security, and following a comprehensive audit, the contract will be restarted. It is expected to be completed within a few hours.
Disclaimer：
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
WikiBit Exchange
- Crypto token price conversion
- Exchange rate conversion
- Calculation for foreign exchange purchasing
0.00