Stars Arena's Astonishing Comeback

SocialFi protocol, Stars Arena announced that it had recovered 90% of the cryptocurrency funds that had been stolen during the October 7 breach. At that time, the exploit resulted in the loss of 266,000 Avalanche (AVAX) tokens, with an estimated value of around $3 million.

In an effort to recover the funds and resolve the situation, Stars Arena negotiated an agreement with the individual responsible for the exploit. This agreement involved offering the exploiter a bounty of 27,610 AVAX tokens, equivalent to nearly $239,054 in value.

Stars Arena went the extra mile by compensating the exploiter with an additional 1,000 AVAX tokens, valued at over $8,800. This compensation aimed to account for any losses the exploiter might have incurred during a bridge transaction.

With the recovery process nearly complete, Stars Arena is diligently working on auditing a newly written smart contract. Once this audit is finalized, the platform plans to place the returned funds into this secure contract, ensuring their safety and integrity.

Before the hack, Stars Arena had been gaining momentum and recognition in the cryptocurrency world. It had become a noteworthy platform within the Avalanche protocol, contributing to the increased adoption of the AVAX token. As a result of the security breach, the token's value dropped 3% last week, casting a shadow over its reputation.