Stars Arena, the popular Avalanche-based cryptocurrency social media platform, announced that it has successfully recovered approximately 90% of the funds lost in the recent security breach.
According to the statement, the attack, which caused a total loss of 266,104 AVAX, caused the platform to struggle to recover the stolen assets.
According to an update from Stars Arena, they managed to recover 239,493 AVAX in two separate transactions of 119,246 AVAX each. This recovery accounts for approximately 90% of the total funds initially lost in the security breach.
The recovery of the funds was possible thanks to an agreement reached with the hacker. In an unexpected move, the hacker expressed willingness to cooperate and return the stolen funds. In a message published onchain from the hacker, the statement “I want to cooperate” was included.
In exchange for returning the funds, Stars Arena agreed to pay a reward fee of 10% of the recovered amount, equivalent to 26,610 AVAX. Additionally, the platform also agreed to pay compensation for 1000 AVAX lost on a bridge during the recovery process. This brings the total reward amount to 27,610 AVAX.
*This is not investment advice.
