Stars Arena Recovers 90% of Stolen Funds, Has Written New Contract

Avalanche-based SocialFi protocol Stars Arena announced it has reached an agreement with the protocol attacker, recovering over 239K $AVAX, which is approximately 90% of the lost funds. The attacker gets a 10% bounty fee.

In addition, the project's technical team has written an entirely new smart contract, which will be open-sourced after an ongoing contract audit is concluded. Before the protocol relaunch, the funds to close the gap caused by the exploit will be transferred directly to the contract.

Last week, a security hole in Stars Arena's smart contract was exploited and around $3 million was stolen.

Related: Stars Arena to Re-Open Smart Contract with Avalanche Founder Showing Support

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