Avalanche-based decentralized social media protocol Stars Arena received funding to cover up a loss from an earlier hack that caused the project to lose nearly $3 million. 

Stars Arena announced the news in a social media update. While the platform does not mention the source of the funding, the announcement says that the smart contract will be reopened with all funds intact after a full audit. 

A white hat development team will review the incident, Stars Arena confirmed.

The decentralized social media protocol first announced the incident in the early hours of Saturday, Oct. 7, warning users not to deposit funds.

The Stars Arena team later apologized for the hack and warned that its site was under a DDoS attack while assuring users that the team was working to resolve the issue.

Although the previous announcements did not disclose the amount lost, blockchain security outfit PeckShield, revealed that hackers Go to Source to See Full Article
Author: Anthonia Isichei

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