Avalanche

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 <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>
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    <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… pic.twitter.com/DmbMdf9cAq</p>— Stars Arena (@starsarenacom) October 5, 2023
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 <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>
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    <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 ️ pic.twitter.com/0RM7NHxLeq</p>— lilitch.eth (@0xlilitch) October 5, 2023
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 <p>The <a rel="noopener noreferrer nofollow" title="exploit" href="https://thebittimes.com/tag/exploit.html">exploit</a> 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 <a rel="noopener noreferrer nofollow" title="exploit" href="https://thebittimes.com/tag/exploit.html">exploit</a>.</p>
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    <p lang="en" dir="ltr">So much FUD about a Stars Arena <a rel="noopener noreferrer nofollow" title="exploit" href="https://thebittimes.com/tag/exploit.html">exploit</a> 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) October 5, 2023
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 <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;wrote:</p>
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  <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>
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 <p>Another community member humorously noted that the tweet regarding the exploit seemed to convey a more negative sentiment than the exploit itself.</p>
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    <p lang="en" dir="ltr">This tweet is actually much more bearish than the "<a rel="noopener noreferrer nofollow" title="exploit" href="https://thebittimes.com/tag/exploit.html">exploit</a>"</p>— Googly (, ) (@0xG00gly) October 5, 2023
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 <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>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> Friend.tech announces new features following SIM-swapping attack
 </div>
 <p>Before the <a rel="noopener noreferrer nofollow" title="exploit" href="https://thebittimes.com/tag/exploit.html">exploit</a>, 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>
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   <img decoding="async" width="1024" height="582" src="https://cdn.thebittimes.com/images/2023/10/06/c449aed75d6d71a076af67ecb0b4df20.webp" alt="Avalanche-based Stars Arena quells 'coordinated FUD' after patching exploit - 1"> 
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   Source: DappRadar
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  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Friend.tech competitor Stars Arena driving on-chain boom on Avalanche
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/avalanche-based-stars-arena-quells-coordinated-fud-after-patching-exploit-tbt65364.html">https://thebittimes.com/avalanche-based-stars-arena-quells-coordinated-fud-after-patching-exploit-tbt65364.html</a></p>

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

TheBitTimes

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