Stars Arena Covers $3M Exploit Loss: Set to Reopen After Audit

By: Eliza Bennet

The social media dApp Stars Arena has successfully secured funds to reconcile a recent gap of $3 Million resulting from a security exploit. The announcement came after an alarming hack where approximately $3 Million worth of AVAX tokens were allegedly sent to the Fixed Float crypto exchange by the hacker.

As an immediate action, the platform will undergo a stringent security audit conducted by a specialized white hat development team, focused on rapidly reviewing the platform's security. While Stars Arena assures its user base that it will re-open the smart contract once it attains full security assurance, the exact time-frame remains anonymous, with 'very soon’ being the only hint.

This incident follows closely on another exploit experienced earlier in the week on October 5th where a hacker reportedly drained $2,000 worth of AVAX from the platform. The safety processes in place will heavily scrutinize and address these repeated security violations in the hope of projecting robustness before its future launch.