- This is something that happens after patching an exploit that also saw attackers escape with $2000 from the Avalanche-based decentralized social media platform.
- It is also very important for people to know that Stars Arena is the one that recently faced a very critical vulnerability that posed a risk to funds that are locked in its smart contract.
Detailed Information On The Particular Case
So, in one of the posts on October 5, the account of Stars Arena mentioned on X (Twitter) that the exploit was fixed. And, later, it added, “Don’t get this wrong we are at war.”
There is also a post that states that they are being targeted by malicious actors in the space that want to steal the money. Later, it added that the little guy is back and people are under attack.
After some time, pseudonymous X user ‘0xlilitch’ took a swipe at Stars Arena and it says that its ‘noob devs’ missed patching a vulnerability in the particular platform’s price function that will always allow the different attackers to sell zero users ‘tickets’ in exchange for technically free Avalanche AVAX.
The post of ‘0xlilitch’ states that $1.1 Million is being drained right now and this happened just because of noob devs who were not able to make a copy of Friend. tech that will work properly. Later, it was added that if someone holds any share on the platform of Stars Arena, then they should sell it immediately.
However, on the other hand, the attack vector was the one that reportedly turned out to be economically unfeasible for different attackers. Also, the exploit itself caused a major surge in the gas fees on the Avalanche, which made extracting the different earnings from the hack far more expensive than anticipated.
Later, as a result, all the attackers supposedly ended up spending more on gas fees than they netted from the exploit. Emin Gün Sirer, CEO and co-founder of Ava Labs highlighted in an X (Twitter) post that for every $0.04 earned from the exploit, the hackers spent an average of $0.25.
Then, it is very important to note that after the relatively unsuccessful exploit, crypto community members were very quick to lash out at the Stars Arena team. There is also a pseudonymous founder and developer of Delegate, who is also known as ‘Foobar,’ who slammed the platform and claims it botched its Friend. tech fork and later told Stars Arena to delete the account along with the product.
Also, people should know that Stars Arena is the latest app for those who want to join a growing roster of social finance platforms.
Conclusion
Lastly, despite the surge in many different apps, Friend. tech is the one that remains the market leader with more than $293 Million in monthly trading volume and it is also the one that outpaces the next-closest app.
Also, Stars Arena has enabled users to connect their Twitter accounts and they are also facilitating the particular purchase or sale of profile tokens of other users with the particular Avalanche’s native currency.