Stars Arena-based social app Avalanche has recovered almost all of the assets it lost during the recent security breach.
according to Official update From the Stars Arena team, the hacker agreed to return the stolen $2.9 million in AVAX tokens in exchange for a 10% reward and 1,000 AVAX missing from the bridge.
Stars Arena recovers lost assets
CryptoPotato Last week, it was reported that Stars Arena lost its total value locked (TVL) via a security breach in its smart contract. Before the robbery, hackers attempted to exploit the platform but managed to escape with $2,000.
After the first exploit, the Stars Arena team claimed to have patched the issue, seeking to dispel the “coordinated FUD” that has plagued the cryptocurrency community. The team noted that they were “at war” with the attackers because they were intent on wasting funds to steal users’ assets.
It is worth noting that members of the
Others criticized the protocol for failing to properly replicate the Ethereum-based social media platform Friend.tech. However, Emin Gün Serer, CEO of Ava Labs – the company behind the Avalanche blockchain – debunked the multiple warnings and insisted that the issue has been resolved.
After all was said and done, Stars Arena was hacked again two days later, with the attackers taking $2.9 million of the project’s TVL and leaving only $0.5 behind. Following the incident, the project team warned users to stay away from the site because it was under a distributed denial-of-service (DDoS) attack.
The attacker gets a 10% reward
Fortunately for Stars Arena, the perpetrator is behind the TVL pass It arrived on October 11 with an on-chain message revealing their willingness to collaborate. The exploiter returned 239,493 AVAX out of the 266,104 AVAX stolen, leaving 26,610 AVAX for themselves.
“We have recovered approximately 90% of the lost funds. We have reached an agreement with the person responsible for the recent security breach. The funds have been returned for a bonus fee of 10% + 1000 AVAX that was lost in a bridge,” the Stars Arena team said. .
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