Stars Arena, an Avalanche-based social media platform, experienced a major security breach resulting in the loss of approximately $3 million in AVAX tokens. The exploit was due to a vulnerability in the platform's smart contract. The team behind Stars Arena has patched the exploit and secured funds to cover the loss. They are conducting a thorough security audit before reopening the platform. Users' funds in their wallets are safe. The CEO of Ava Labs, the company behind Avalanche, encouraged users to continue using Stars Arena despite the breach. The hack has sparked discussions about the security of decentralized finance projects and the need for thorough contract verification.
ICYMI: Hacker returns 90% of stolen funds to Stars Arena following exploit https://t.co/XbxvCM8Jzm
Stars Arena Announces That It Recovered Most of the Stolen Funds After the Attack https://t.co/Io7yFdOrvi
$avax will see a new 2 years low in coming days or weeks
AVAX doing its best to reduce the $3m Stars Arena hole to $300k by the end of the month
🔍 Unveiling the chaos of the recent Stars Arena Attack. Our team conducted a thorough analysis and uncovered the intricate details of this $2.9M attack. Full analysis 👇 https://t.co/2BOzDmH5e2
1/ 💡 𝗘𝘅𝗽𝗹𝗮𝗶𝗻𝗲𝗱: 𝗧𝗵𝗲 𝗦𝘁𝗮𝗿𝘀 𝗔𝗿𝗲𝗻𝗮 𝗛𝗮𝗰𝗸 This October, Stars Arena—a SocialFi platform was the victim of a #DeFi hack. The attackers exploited a reentrancy vulnerability, stealing an estimated $2.9M in $AVAX 💸🥷 #StarsArenaHack #DeFiHacks
Stars Arena Hack. What Happened & What's the Future of SocialFi? 🤔 Stars Arena, a FriendTech fork that shared over $1.3 million in revenue with its 25,000 users so far... ...suffered an exploit on Saturday morning, where $3 million was stolen. 🤦 What's Stars Arena? - An app… https://t.co/l5ONMMnaFA https://t.co/PTRCiKO6Ao
Over the last weekend on Oct 7, @starsarenacom, a social #dApp on #Avalanche’s Contract Chain, suffered a security breach and lost 💰~$3M due to a vulnerability in its non-open-source #smartcontract, which led to a possible reentrancy attack. Along with this, the Stars Arena… https://t.co/EBGqhK3YsS https://t.co/vsAuoRpC3O
Over the last weekend on Oct 7, @starsarenacom, a social #dApp on #Avalanche’s Contract Chain, suffered a security breach and lost ~$3M due to a vulnerability in its non-open-source #smartcontract, which led to a possible reentrancy attack. Along with this, the Stars Arena… https://t.co/GhkhiOtLIZ https://t.co/LCRoZNTATK
The Stars Arena now that $AVAX is back below $10 https://t.co/jlAHlyLiEo
AVAX Based Social App Stars Arena Suffers $2.9 Million Hack; Team Secures Funds to 'Close the Gap' #AVAX #StarsArena https://t.co/Iskz2I7GPz
Project Name: Stars Arena Losses: ~$2.800.000 Type of Issue: Reentrancy Summary: Stars Arena, a social monetization platform was compromised in a "major security breach," resulting in the loss of $2.85 million. https://t.co/kUCdVmWllT
RECENTLY: Avalanche social app Stars Arena lost almost all of its locked funds early Saturday morning in a hack. https://t.co/mBPw5WSkNX
Social Onchain App Stars Arena Suffers $2.9 Million Hack; Team Secures Funds to 'Close the Gap' #AVAX #StarsArena https://t.co/Iskz2I7GPz
Stars Arena, a Web3 social media app, secured funds to cover a $3 million exploit from Oct 6. The platform will reopen its smart contract post a thorough security audit. Following the hack, a specialized white hat team will review the platform's security. https://t.co/SBx3jEyQAy
I am not clowning on Stars Arena ONLY because they were exploited. Protocols can get exploited. It happens all the time. I am clowning on Stars Arena and Avalanche (mainly the Ava Labs CEO) because of their behavior leading up to and after the exploit. They simply did not care… https://t.co/gOTLo83Ud7
Nearly $3 million in AVAX was drained from @starsarenacom after an exploit on Saturday. The app gained a cult following earlier this week and was hyped up by the Avalanche community, including its key developers - by @shauryamalwa https://t.co/l0fKZCLgIb
STARS ARENA HACK AND ITS IMPLICATION TO AVALANCHE The new darling of Avalanche got hacked twice on two subsequent days, for $3.5M. Avalanche ecosystem and its investors are rushing to make the project whole. Why did this happen, and what can we learn from this? 👇👇👇 https://t.co/CY0MHQTSFZ
There is no need to pretend $avax can hold above 10$ Just let it go
SocialFi app Stars Arena has locked in the funds to cover the $3M hole left by the recent security breach, and has vowed to make security “watertight” before re-opening its smart contract. https://t.co/SBx3jEzoq6
Stars Arena exploited for $3 million October 7, 2023 https://t.co/LztSRD4fX6 https://t.co/D1bPtwvTeN
Stars Arena Drained of $2.85 Million Amid Fears of Social Token ‘War’ with Hackers ► https://t.co/zegP8sJ9PG https://t.co/zegP8sJ9PG
Stars Arena — more-or-less a FriendTech clone — drained of $3mn. https://t.co/dJMbBD2saW
ICYMI: Stars Arena drained of $2.9 million in AVAX tokens, funds in user wallets are safe https://t.co/6SS8wVDQMn
The Avalanche CEO, @el33th4xor is in a space right now and just said: "This is a tribal attack against us, against Avalanche. This was a good product built by a good team. Support the team, support the product." He is encouraging users to CONTINUE to use Stars Arena after the… https://t.co/YlzAAdoLUY
Stars Arena is redeploying funds, looks like they're prepping to reopen. There's an old saying in Tennessee—I know it's in Texas, probably in Tennessee—...
Stars Arena only lost $3m, says Ava Labs CEO We don’t live the same life 😂 https://t.co/F68w9U6nel
The reason I advised against using stars arena was not because it was a copy paste project (it was), or because it had incompetent devs (it did). It was because the contract was unverified, which makes it unnecessarily difficult to verify it's safety. And now it's gone.
If you signed up for Stars Arena through my referral link and deposited money, please send me a DM, I am setting aside Avax for those impacted by the hack yesterday I'm going to ask to see the transaction where you deposited the Avax for proof, and I will not be able to cover… https://t.co/MKAdOSAxrM
Stars Arena only lost $3m, says Ava Labs CEO We don’t live the same life 😂 In other news, the Stars team says they are fixing the contract and the funds will be back up in full soon https://t.co/YBAazIIAZa
Stars Arena which suffered a $3 million hack, has received funding to make up for the loss https://t.co/UalFGYRAqw
is there any good explanations / writeups about the stars arena hack? im a bit out of the loop
BIG ACCOUNTS: Before the hack: "Stars is the greatest, if you missed Friend Tech then Stars is the next big thing, if you missed Friend Tech then get it here, be the first! this is how people make it big with little money! this is the way!" After 3M $AVAX is drained ($30M… https://t.co/bDycPi58lK
Stars Arena exploit funds being moved from - https://t.co/R3ssZETOQu It’s so over bruh https://t.co/uOM8wuF1mB
🚨 BREAKING: Avalanche-Based SocialFi App Stars Arena Loses $3M in Smart Contract Exploit https://t.co/3v0AhP3fhO
Stars Arena drained of $2.9 million in AVAX tokens, funds in user wallets are safe https://t.co/qSVHuCU02N
Stars Arena, an Avalanche social protocol similar to Friend Tech, tweeted that there is a major security vulnerability in the smart contract and is actively checking the problem, reminding users not to deposit any funds. According to PeckShield, Stars Arena was hacked, resulting… https://t.co/0fTvpkjk74
Stars Arena drained $2.9m + due to an exploit More details in this tagged account 👇 https://t.co/mG6rpcy3Gd
Stars Arena breached! Do not deposit 🚨 https://t.co/neNbm9QGSP
🚨 Stars Arena security breach DO NOT INTERACT! https://t.co/QoosYxNSIj
. @TheAlienBoyNFT probably just made more fees in $AVAX in the last 5 minutes on Stars Arena than earned in royalties from the last 5 weeks Might be something... Haven't seen any other projects join yet so might be the first on @starsarenacom Very interesting for @avax https://t.co/eBLGVhxjjC
You have the whole AVAX team shilling a product and it hasn't grown beyond $3m TVL. Goes to show how much of a deserted wasteland crypto has turned into.
Joined Stars Arena yesterday and lots of folks are asking what it is and how you can earn $AVAX Here's my quick rundown and experience to get you started on @starsarenacom 🧵
ok i joined that stars arena thing bc i'm poor lol https://t.co/sXCOqDpW3B
There's going to be a ton of people buying Avalanche to use Stars Arena Check the charts, it's outpacing the market 📈 Whether you like the social platform or not, it's a new use case for $AVAX and the Avalanche team is active on the platform https://t.co/sVSRtPatqf
Is this stars arena thing a thing now? Should I make one??? 😭 https://t.co/8bE7Jmi21w
I joined stars arena last night and have been having a blast on it The onboarding is very easy, you don't need to bridge money over or anything, just sign up and they make an Avalanche wallet for you Mine was already funded, but maybe they just do that for celebrities? Either… https://t.co/CpTIP8SoLu
The Stars Arena team has patched an exploit on their Avalanche-based social media platform, dismissing it as "coordinated FUD" https://t.co/NRoUBN4lll
Started Stars Arena account 8 hours ago, already up to 420 AVAX. If you want to join, use my referral link: https://t.co/RcJJ8Z3CXD https://t.co/FiYJq2k0HN
If you're going to try out Stars Arena, please use my referral link: https://t.co/RcJJ8Z3CXD Give me all the AVAX please.