Disclaimer: This platform includes third party opinions. We do not endorse their accuracy. Digital asset prices can be volatile. Do your own insights. See full terms

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

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

Oct 12,2023,01:05

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

Stay updated with the most important cryptocurrency news and valuable insights, conveniently delivered to your email every day. Subscribe to the TokenInsight mailing list now!

Prefer social media? Follow us on Twitter, or subscribe to our Telegram channel!

If you have news reports or announcements that you want to reach a wider audience, feel free to email us at [email protected]

Join Our Community

Get the BloFin App