{"id":554478,"date":"2023-10-07T13:00:56","date_gmt":"2023-10-07T13:00:56","guid":{"rendered":"https:\/\/uniquehot.com\/?p=554478"},"modified":"2023-10-07T11:52:11","modified_gmt":"2023-10-07T11:52:11","slug":"avalanche-based-stars-arena-falls-victim-to-a-3-million-exploit-tvl-tanks-by-100","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/defi\/avalanche-based-stars-arena-falls-victim-to-a-3-million-exploit-tvl-tanks-by-100\/","title":{"rendered":"Avalanche-Based Stars Arena Falls Victim To A $3 Million Exploit, TVL Tanks By 100%"},"content":{"rendered":"

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.<\/span><\/p>\n

On Thursday, October 5, the Stars Arena team said – via a post on X<\/a> (formerly Twitter) – that it has averted a security exploit, which could have led to the loss of over $1 million worth of funds.\u00a0<\/span><\/p>\n

Stars Arena Loses $2.9 Million To Attack, PeckShield Reveals<\/strong><\/h2>\n

On Saturday, October 7, a pseudonymous X user raised the alarm<\/a> about the suspicious movement of Avalanche (AVAX) tokens from the Stars Arena contract.\u00a0<\/span><\/p>\n

A few minutes after this, the protocol\u2019s team confirmed – via a post on X – that there has been a \u201cmajor security breach with its smart contract.\u201d\u00a0<\/span><\/p>\n

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There has been a major security breach with the smart contract. <\/p>\n

We're actively checking the issue. <\/p>\n

DO NOT deposit any funds. <\/p>\n

Stay tuned for updates.<\/p>\n

— The Arena (@TheArenaApp) October 7, 2023<\/a><\/p><\/blockquote>\n