The hacker returned 90% of the funds stolen during the Stars Arena hack


SocialFi platform Stars Arena, powered by Avalanche, has recovered approximately 90% of the assets lost due to the exploit. The refund was the result of negotiations with the hacker.

On October 7, the Friend.Tech-inspired project lost 266,103 AVAX (~$3 million at the time of the attack) due to a “major security breach” in its smart contracts. As a result of the incident, the total value of assets blocked on Stars Arena dropped to zero.

“We have reached an agreement with the person responsible for the recent security breach,” the team said.

As agreed, the reward for the return of funds was 27,610 AVAX – 10% of the total amount plus 1000 AVAX lost in the cross-chain bridge.

The hacker transferred 239,493 AVAX to the platform in two transactions.

The Stars Arena developers also reported that after the incident they wrote a completely new smart contract. The source code is currently being audited by Paladin Blockchain Security specialists.

The team promised to cover the shortfall before restarting the platform.

Let us remind you that the Stars Arena application, launched at the end of September as a fork of Friend.Tech on Avalanche, caused a sharp increase in activity on the network. The number of transactions in the ecosystem jumped from 790,000 to 1.2 million in less than a week.

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