Stars Arena: Triumph Over Adversity

Stars Arena, a social app powered by Avalanche technology, has managed to retrieve nearly all of its lost assets following a recent unfortunate security breach.

In an official and detailed update from the diligent Stars Arena team, it was revealed that the intruder, after some negotiation, agreed to return the unlawfully taken $2.9 million in AVAX tokens. As part of the agreement, they would receive a 10% bounty and an additional 1,000 AVAX that had gone missing due to a bridge.

Stars Arena Triumphantly Recovers Misplaced Holdings

During the preceding week, Stars Arena faced a significant setback as it experienced a complete loss of its Total Value Locked (TVL) due to a security breach within its smart contract. The audacious hackers had attempted to exploit the platform before successfully making off with $2,000.

Following this initial breach, the vigilant Stars Arena team swiftly and confidently assured the community that they had effectively patched the vulnerability. This assurance was vital in dispelling the unwarranted fear, uncertainty, and doubt (FUD) that had permeated the broader crypto community. The team emphasized their commitment to combating the malevolent attackers, who were evidently willing to spend recklessly to pilfer users' valuable assets.

It's noteworthy to mention that members of the X crypto community had raised concerns about the inherent flaws in Stars Arena's base contract, cautioning fellow users and stakeholders to consider selling their shares while an opportunity still existed, given the inevitable vulnerability of the project.

This situation also triggered criticism, with some asserting that the protocol had not adequately emulated the Ethereum-based social platform Friend.tech. However, Emin Gün Sirer, the astute CEO of Ava Labs – the esteemed company responsible for the pioneering Avalanche blockchain – robustly rebuffed these numerous warnings, asserting with confidence that the identified issue had indeed been effectively resolved.

However, fate had other plans, as Stars Arena found itself targeted in another nefarious hack a mere two days later. The audacious attackers siphoned a staggering $2.9 million from the project's TVL, leaving a meager $0.5 in their wake. Subsequently, in light of this distressing event, the project's team earnestly urged users to exercise caution and avoid accessing the site, given an ongoing distributed denial-of-service (DDoS) attack.

Perpetrator Nods to 10% Bounty

Miraculously, there was a glimmer of hope for Stars Arena, as the individual accountable for the TVL breach reached out on the auspicious date of October 11. Their on-chain message expressed a willingness to cooperate and make amends. As a result of this newfound collaboration, the exploiter has since returned a significant portion, specifically 239,493 AVAX out of the originally pilfered 266,104 AVAX, opting to retain 26,610 AVAX for themselves.

In a statement resonating with relief and satisfaction, the Stars Arena team shared, "We have successfully recuperated approximately 90% of the lost funds. We have mutually agreed with the individual responsible for the recent security breach. In accordance with the agreement, the funds have been rightfully reimbursed, accompanied by a 10% reward fee + 1000 AVAX to compensate for the losses incurred in a bridge."

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