
Stars Arena, a social platform backed by Avalanche's Contract Chain, has been accused of being a major security breach.
Stars Arena, a social token-based platform that allows people to create and monetize online communities, has been growing in popularity since its launch last month.
Stars Arena enables influencers, online content creators, and public figures to monetize their fan base by allowing access to exclusive content and offerings, allowing users to link Twitter accounts and trade profile tokens using Avalanche's AVAX.
The Stars Arena Twitter account posted a warning on Friday that the platform's smart contract had been attacked.
We're actively checking the situation, he said. Do not deposit any funds, Mr. Clinton said in a statement.
Redline, a self-described crypto expert who first noticed the security breach, says hackers transferred 266,103 AVAX using the FixedFloat exchange service. The price of AVAX dropped from $11.56 to $10.78, and users were encouraging each other to remove Stars Arena from their Twitter accounts.
hour later, Stars Arena apologized for the smart contract exploit and said they were still under a DDOS attack. '' The Arena has recovered and have the move forward,'' he said.
Earlier this week, Friend.tech was also hit by hackers. The accounts of four users of the Ethereum layer-2 network base platform were drained, with those responsible making up $385,000 in Ethereum.