🚨 Stars Arena, the Avalanche-based social application, was hacked due to a smart contract vulnerability and approximately $3 million worth of AVAX tokens were stolen! 😱 The developers confirmed the situation and stated that users should not deposit funds for now.
⚡ Stars Arena launched just a week ago and quickly became popular among the Avalanche community. The app increased AVAX token prices by 6% in a week.
🔑 Stars Arena and Ethereum-based Friend.Tech allow users to gain access to private chat rooms by purchasing "keys" or "shares" of popular X users. The value of these shares is quite volatile and some users try to make a profit by treating them as tokens.
📣 The attack took place despite Ava Labs employees supporting the application. Founder Emin Gün Sirer stated that the attack "has already been fixed."
👇 How do you think the security of such applications can be increased? Share your thoughts in the comments!
⚡ Stars Arena launched just a week ago and quickly became popular among the Avalanche community. The app increased AVAX token prices by 6% in a week.
🔑 Stars Arena and Ethereum-based Friend.Tech allow users to gain access to private chat rooms by purchasing "keys" or "shares" of popular X users. The value of these shares is quite volatile and some users try to make a profit by treating them as tokens.
📣 The attack took place despite Ava Labs employees supporting the application. Founder Emin Gün Sirer stated that the attack "has already been fixed."
👇 How do you think the security of such applications can be increased? Share your thoughts in the comments!