Crypto Daily™10 minutes ago

Published on October 12, 2023 11:41 GMT+00:00edited on October 12, 2023 11:44 GMT+00:00

Stars Arena, a Web3 social media platform, has revealed that it has managed to recover nearly all the stolen crypto lost during a hack that took place on the 7th of October. 

The platform revealed it had reached an agreement with the hacker and agreed to pay a bounty along with 10% AVAX. 

The Stars Arena Hack 

Stars Arena is an on-chain social app built on the Avalanche blockchain. The platform fell victim to a hack on the 7th of October when hackers took advantage of a vulnerability in its smart contracts system and managed to siphon off funds. In the end, the protocol acknowledged it had lost around $2.9 million thanks to a major breach in a series of posts on X. 

“There has been a major security breach with the smart contract. We’re actively checking the …