DappRadar

Avalanche

<p class="is-style-lead">The Stars Arena team has addressed a code flaw in their Avalanche-based social media platform, dismissing critics who they claim are spearheading a “coordinated FUD.”</p> 
<p>In an Oct. 5 post on X (Twitter), the Stars Arena account said the exploit, which saw attackers extract $2,000, was fixed, adding, “don’t get this wrong, we are at war.”</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">THE EXPLOIT HAS BEEN FIXED.<br><br>BUT DON’T GET THIS WRONG WE ARE AT WAR.<br><br>We’re being targeted by malicious actors in the space that want to steal your money.<br><br>The little guy is under attack. <br><br>You are under attack.<br><br>Your right to platform diversity is under attack.<br><br>Don’t get it… <a href="https://t.co/DmbMdf9cAq" target="_blank">pic.twitter.com/DmbMdf9cAq</a></p>— Stars Arena (@starsarenacom) <a href="https://twitter.com/starsarenacom/status/1709934535570608172?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">October 5, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>The flaw was initially brought to light by a pseudonymous X user named “0xlilitch,” who criticized the Stars Arena developers for failing to patch a vulnerability in the platform’s price function. </p> 
<p>This oversight enabled attackers to freely sell zero user “tickets” for AVAX.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">So how is the contract getting drained right now? <br><br>THEIR getPrice() FUNCTION IS BROKEN <br><br>You can sell 0 shares and get AVAX. Yep. You can do this right now and it will work.<br><br>But where do this extra AVAX come from?<br><br>read next ⬇️ <a href="https://t.co/0RM7NHxLeq" target="_blank">pic.twitter.com/0RM7NHxLeq</a></p>— lilitch.eth (@0xlilitch) <a href="https://twitter.com/0xlilitch/status/1709885466244169728?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">October 5, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>The exploit had unintended repercussions for the attackers, resulting in a substantial increase in gas fees on the Avalanche network. This made it economically impractical for them to profit from their illicit activities.</p> 
<p>Ava Labs CEO Emin Gün Sirer revealed that the attackers incurred an average cost of $0.25 for every $0.04 they gained from the exploit.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">So much FUD about a Stars Arena exploit that has (1) already been fixed, (2) cost the attacker $0.25 to make $0.04, and (3) the attacker extracted a sum total of only $2,000. Now that it's over, let's get back to having fun in the arena.</p>— Emin Gün Sirer🔺 (@el33th4xor) <a href="https://twitter.com/el33th4xor/status/1709923165919387999?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">October 5, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>Despite the exploit’s partial success, the crypto community swiftly criticized the Stars Arena team. Pseudonymous founder and Delegate developer, “Foobar,” accused the platform of mishandling its Friend.tech fork.</p> 
<p>He&nbsp;<a href="https://twitter.com/0xfoobar/status/1709949278523634110" target="_blank" rel="noreferrer noopener">wrote</a>:</p> 
<blockquote class="wp-block-quote"> 
 <p>“You took a fully functional base contract and somehow added new attack vectors in your unverified fork. delete your account and product, clown-show.”</p> 
</blockquote> 
<p>Another community member humorously noted that the tweet regarding the exploit seemed to convey a more negative sentiment than the exploit itself.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">This tweet is actually much more bearish than the "exploit"</p>— Googly (👀,🫡) (@0xG00gly) <a href="https://twitter.com/0xG00gly/status/1709941251934703719?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">October 5, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>Stars Arena’s comments on market monopoly subtly implicated Friend.tech, the protocol credited with sparking the SocialFi movement.</p> 
<p>Both platforms appear nearly identical in concept and operation, raising questions about the competitive landscape in decentralized social media.</p> 
<p> You might also like: <a href="https://crypto.news/friend-tech-announces-new-features-following-sim-swapping-attack/"> Friend.tech announces new features following SIM-swapping attack </a> </p> 
<p>Before the exploit, Stars Arena held the top spot as the most popular decentralized app (dapp) on Avalanche, greatly boosting the network’s activity.</p> 
<p>Nonetheless, the recent controversy has left a visible mark.</p> 
<p>DappRadar reports a significant decrease in transactions, volume, and user engagement on Stars Arena within the past 24 hours.</p> 
<figure class="wp-block-image size-large">
 <img decoding="async" width="1024" height="582" src="https://crypto.news/app/uploads/2023/10/Stars-Arena-1024x582.png" alt="Avalanche-based Stars Arena quells 'coordinated FUD' after patching exploit - 4" class="wp-image-14201250">
 <figcaption class="wp-element-caption">
  Source: <a href="https://dappradar.com/dapp/stars-arena?range-ha=7d" target="_blank" rel="noopener">DappRadar</a>
 </figcaption>
</figure> 
<p> Read more: <a href="https://crypto.news/friend-tech-competitor-stars-arena-driving-on-chain-boom-on-avalanche/"> Friend.tech competitor Stars Arena driving on-chain boom on Avalanche </a> </p>

Avalanche-based Stars Arena quells ‘coordinated FUD’ after patching exploit

crypto.news

Other articles published on Oct 6, 2023

Barclays PLC: BARC Share Price Sheds 2.03%; Will it Retest $152?

“There is So Much Wrong”: XRP’s Alderoty Slams SEC Lawsuit Against Coinbase

Should You Invest in Telegram Trading Bots? Uncovering the Truth Behind Telegram Bots

BTCC Announces Major VIP Program Update with as Low as 0.01% Trading Fees

Shiba Inu Price in Trouble? Token Burn Rate Crashes – What’s Next?

Forbes Likens Binance to FTX, Argues It Is in an “Existential Crisis”

Join our free newsletter for daily crypto updates!