Web3 Social Platform Stars Arena Relaunches: Trading To Resume After Audit
Avalanche-based Stars Arena has relaunched its application following a hack and 10% bounty offer that led to the bad actor returning 90% of stolen assets.
The platform announced on X (formerly Twitter) on Oct 15 that it relaunched services except trading but a new announcement will be made soon concerning trading functionality.
“The Arena will re-open on Sunday with a pause on trading functionality. There will be a separate announcement on trading being resumed, shortly after the relaunch.”
Per the post, trading will commence after a full audit is carried out on the smart contract to prevent further loss of funds as it has previously faced two incidents resulting in loss of assets.
“Trading will only resume once the full audit has been published and the contract has been open-sourced for community review. We would like to thank everyone at @0xPaladinSec for working over the weekend to get this finished in the shortest possible time.”
The call on the community and other developers to audit the code comes after users expressed fears of a similar incident since the platform announced previous hacks.
The platform believes it has gotten the support of users following a series of smart contract audits and a refund of all user assets.
On crypto spaces, Stars Arena users celebrate the relaunch, still stressing a focus on security while citing diversity and the need for competition as reasons why the platform needs to expand.
The platform announced the hack on Oct 7 that reunited $2.9 million worth of AVAX tokens stolen from the company.
“We're actively checking the issue. DO NOT deposit any funds.”
The hacker using the FreeFloat exchange service transferred 266,104 AVAX tokens slightly dropping the price of the asset in the process.
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