Web3 social media platform Stars Arena faced back-to-back security challenges during the past week as its popularity soared.
The incident has divided the crypto community’s faith in the project, with many questioning its platform’s security strength.
Two Exploits in One Week
On October 5, Stars Arena suffered a vulnerability that allowed an attacker to move $2,000 worth of AVAX from the platform.
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At the time, Stars Arena claimed it was at “war” with the “malicious actors” seeking to abscond with its users’ assets. The project further stated that it was ready to protect its platform and touted its security strength,
However, less than two days later, the decentralized social media project suffered another breach. On October 7, the Stars Arena team stated that its smart contract suffered a major security breach that allowed an attacker to drain an undisclosed amount of users’ funds from its platform.
The project would also later reveal that its site suffered from a distributed denial of service (DDoS) attack.
“Our smart contract was exploited and the funds were drained. The site is currently under DDOS attack. We are working on a solution to get everyone’s funds recovered and have the Arena move forward.”
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Author: Oluwapelumi Adejumo
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