Stars Arena recovered 90% of the stolen money after offering a $257,000 bonus

Web3 social media platform Stars Arena says it has recovered almost all of the crypto stolen from the October 7 exploit – minus a 10% reward for whoever was responsible.

In an Oct. 11 X (Twitter) post, Stars Arena said 90% of Avalanche's 266,000 (AVAX) exploits, worth about $3 million at the time, were returned after agreeing to a bonus of 27,610 AVAX worth nearly $257,000. The exploiter.

The award includes compensation for 1,000 AVAX worth more than $9,000 lost by the exploiter in the bridge.

Update

We have recovered about 90% of the lost funds.

We have reached an agreement with the individual responsible for the recent security breach.

Money back for 10% bonus + 1000 AVAX lost in bridge.

Total money lost:…

— Stars Arena (@starsarenacom) October 11, 2023

In a separate post, Stars Arena added that it has written a new smart contract and is completing an audit of the new contract before depositing the refund.

Stars Arena first alerted the community to the exploit on Oct. 7, calling it a “major security breach” that allowed it to cash in on its smart contracts.

In a subsequent post, Stars Arena revealed that it received funding to plug the hole left by the exploit and contracted a development team to conduct a full security audit, though the team has not yet detailed how the exploit was carried out.

Related: Galxe Replaces 110% of Funds From Users Lost in Recent Front-End Hack, Over $400K

A few days ago, on October 5, Stars Arena was hit with a small exploit, although the hackers paid around $2,000, they said.

The exploit was caused by the developers of Stars Arena missing an exposed price function in the arena's modern contract. This allowed the exploiter to sell user shares for nothing and get AXAX in return, Ysmuth's X user “0xlilitch” explained in a post.

Astral Area says it fixed the vulnerability.

Constellation Arena's main competitor, Friend.tech, has recently seen users add security features to mitigate SIM swap attacks targeting Friend.tech.

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