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Stars Arena, an Avalanche-based Web3 social media app, is reinforcing its security measures following a $3 million exploit on October 6, 2023. The steps include the transfer of funds to a secure multisig wallet, a comprehensive security audit, and the engagement of a white hat team for rapid security review.
In a surprising turn of events, Stars Arena, a social protocol built on the Avalanche blockchain, recently faced a significant exploit worth $3 million.
Avalanche-based Web3 social media platform Stars Arena recently faced a significant security breach that resulted in a loss of $3 million on October 6th. In response to the incident, the Stars Arena team has taken swift action, securing funding to mitigate the impact and enhance security measures.
Stars Arena fell victim to a cyber attack that resulted in the theft of approximately $3 million worth of AVAX tokens.
Social protocol Stars Arena suffered a "major security breach" through which hackers stole 266,103 Avalanche (AVAX) worth $2.85 million.
Social media application Stars Arena, based on the Avalanche platform, recently conveyed its success in garnering funds to bridge a $3 million financial gap. This setback was caused by a security breach on October 6.
The cryptocurrency market is abuzz with anticipation as Avalanche (AVAX), often dubbed an Ethereum (ETH) rival, is poised for a substantial surge, potentially exceeding 12% in value. This prediction comes from a well-regarded crypto strategist known as Altcoin Sherpa, who commands the attention of over 196,000 followers on the social media platform X.
Stars Arena, an on-chain social app built on the Avalanche blockchain, suffered a $2.9 million hack Saturday, when hackers took advantage of a vulnerability in its smart contract, draining funds.
A social finance (SocialFi) platform built on Avalanche (AVAX) has suffered losses after bad actors targeted a smart contract vulnerability. Stars Arena allows content creators to monetize their expertise by selling tickets or shares to their followers using AVAX tokens to facilitate the sale.
Stars Arena, an Avalanche-based social media dApp, has responded to a recent $2.9 million security breach by securing the necessary resources to cover the associated losses. The platform has also engaged a white hat team to conduct a security assessment.
Emin Gun Sirer, founder of the renowned Avalanche blockchain recently pointed out that Stars Arena, a social protocol built on Avalanche had achieved something even Elon Musk's X couldn't. Sirer's comments come as a defense of the protocol which just suffered an exploit.
The bitcoin price is struggling to rise above $28,000 after facing a couple of rejections at these levels. Due to this, altcoins currently appear to be uncertain about the impending trend, while a major shift is fast approaching. This could result in altcoins having an upper hand compared to Bitcoin.
In a recent comprehensive analysis conducted by financial services provider VanEck, concerning the dynamic blockchain space, it has been brought to light that Avalanche (AVAX), once a prominent player in the blockchain arena, is currently grappling with a noticeable downturn in both user engagement and developer activity. These revelations cast a revealing spotlight on the evolving landscape of blockchain technology and the competitive dynamics at play.
Cardano, a popular Proof-of-Stake blockchain, has risen into the top 10 cryptocurrencies on CoinmarketCap. As of now, it holds the 8th position out of nearly 9,000 active cryptocurrencies listed on the platform.
Avalanche's Stars Arena witnesses a hack that causes a loss of nearly $3 million. AVAX's price action soon turns bearish after the incident.
Stars Arena was hacked for roughly $3 million worth of AVAX tokens, with the hacker reportedly sending the funds to the Fixed Float crypto exchange.
Hackers manage to exploit yet another smart contract bug in Stars Arena to pocket millions of dollars.
Bullish momentum could see buyers flip $11 resistance level to support in the short term.
Hackers exploited a vulnerability on Oct 7 and drained $2.9 million worth of Avalanche (AVAX) tokens from the smart contract of Stars Arena, an Avalanche-based social token platform. The vulnerable smart contract was used to secure tokens on the platform.
Stars Arena, a decentralized social media platform built on the Avalanche network, has suffered a major security breach, resulting in the loss of a significant amount of cryptocurrency. This comes barely a day after the decentralized application (dApp) reportedly fixed a loophole in its smart contract.
Stars Arena, the Avalanche-based rival of social protocol Friend Tech, has recently confirmed a protocol exploit that resulted in a staggering loss of 266,103 AVAX tokens worth approximately $2.88 million. Nature of the Exploit This disturbing revelation has sent shockwaves through the crypto community, raising concerns about the safety and security of smart contracts and
A SocialFi protocol on Avalanche (AVAX) is targeted by the second attack in three consecutive days. It seems that the same malefactors might be exploiting a well-known vulnerability, while some commentators accuse the team of an insider job.
A closely followed crypto strategist is predicting Avalanche (AVAX) will undergo a massive surge due to one main reason. Pseudonymous crypto analyst Altcoin Sherpa tells his 196,600 followers on the social media platform X that the Ethereum (ETH) rival could increase by more than 12% from its current value.
Stars Arena's operations work similarly to the Ethereum-based Friend.Tech project.
