Cryptocurrency social network Stars Arena has announced a series of strategic partnerships aimed at improving the security and technological capabilities of its platform, following a recent hack that resulted in a loss of $3 million.
The company announced that it is collaborating with Paladin Blockchain Security, an expert in blockchain security solutions. In the statement made by the platform, this collaboration, in their words, “underlines Stars Arena's unwavering commitment to strengthening the security infrastructure of its platform and is a step recommended by key community leaders.”
In addition, Stars Arena announced that it has partnered with software engineer Locrian and his team. Previously, the founder of the platform admitted that he wrote the codes of the entire project and launched it within a week. This raised suspicions in the minds of members of the cryptocurrency community that the platform was launched before it was ready. With the latest partnerships, Stars Arena is trying to strengthen its weak points.
AVAX founder Emin Gün Sirer also made some comments about the platform installed on the Avalanche network. Sirer argued that the $3 million hacking incident experienced by the platform was quite small-scale and could be resolved with platform revenues within two weeks.
*This is not investment advice.