Stars Arena Relaunches Web3 Social Finance App with Trading Pause
The web3 social finance app, Stars Arena, has relaunched on the Avalanche blockchain. However, trading functionality is currently paused. According to a post on Twitter, the app will announce when trading will resume shortly after the relaunch. The app is now live but trading will only recommence after a full audit and open-sourcing of the contract for community review.
Recovering from a Hack
Stars Arena suffered a hack on October 7, resulting in the loss of approximately $2.9 million worth of AVAX tokens. However, the platform managed to retrieve around 90% of the stolen funds through negotiations with the hacker. The hacker returned 239,493 AVAX in exchange for a 10% bounty.
About Stars Arena
Stars Arena is an on-chain social finance app built on the Avalanche blockchain. It is a forked iteration of FriendTech, allowing users to purchase tokens that grant access to individual chat rooms.
Hot Take: Stars Arena Focuses on Security and Transparency
The relaunch of Stars Arena’s web3 social finance app demonstrates their commitment to security and transparency. By pausing trading functionality until after a full audit and community review, they prioritize the safety of user funds. Additionally, their successful recovery of stolen funds through negotiations with the hacker showcases their dedication to protecting their community’s assets. As an on-chain platform built on Avalanche, Stars Arena offers users an innovative way to engage in social finance while ensuring the highest level of security possible.
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