Stars Arena Fixes Exploit After Attackers Steal $2,000 from Decentralized Social Media Platform

The team behind the Stars Arena protocol has addressed an exploit that led to attackers stealing $2,000 from the decentralized social media platform. The exploit has since been fixed, but the Stars Arena team warns that they are still at war against malicious actors in the space.

Attackers Exploit Stars Arena Vulnerability

A vulnerability in Stars Arena’s price function allowed attackers to sell zero user "tickets" in exchange for free Avalanche AVAX tokens. Pseudonymous user "0xlilitch" pointed out this vulnerability, referring to Stars Arena's developers as "noobs".

Attackers Spend More on Gas Fees Than They Gained

Despite the successful exploit, the attackers did not come out on top. The exploit caused a surge in gas fees on Avalanche, making it more expensive than expected for the attackers to profit from their hack. As a result, they spent more on gas fees than they gained.

Stars Arena Faces Criticism from Crypto Community

Members of the crypto community were quick to criticize the Stars Arena team for the security vulnerability. The pseudonymous founder and developer of Delegate, known as "Foobar," advised the platform to delete its account and product.

Stars Arena Among Growing Number of Social Finance Platforms

Stars Arena is the latest addition to the world of social finance platforms. Other popular platforms in this space include Alpha on the Bitcoin network, Friendzy on Solana, and PostTech on Arbitrum. Despite the competition, Friend.tech remains the market leader, with a monthly trading volume of over $293 million.