Stars Arena, a cryptocurrency social protocol similar to Friend Tech on the Avalanche network, has surprisingly reported a significant security flaw in its smart contract.
The company issued a warning to its users, asking them not to deposit any money until the problem is resolved.
Before the official announcement, anomalies in Stars Arena onchain activities were detected by users and it was already clear that the hack had occurred. Then, an official statement was made by the platform and the hacking incident was confirmed.
Apparently, the same hacker who took advantage of the 'sellShares' bug yesterday has now exploited a new vulnerability in the StarsArena contract and sent 266,103 AVAX to his wallet.
Platform managers said in their tweet:
“There was a major security breach in the smart contract. We are actively checking the issue. Please do not deposit money on the platform. Stay tuned for updates.”
According to cybersecurity firm PeckShield, this security breach resulted in Stars Arena being hacked and losing approximately $2.9 million.
The platform, which can be described as a clone of Friend.tech, worked on the Avalanche network instead of Ethereum and brought great mobility to the Avalanche onchain data. However, there was another security breach on the platform yesterday and it was reported that it was resolved without any losses.
*This is not investment advice.