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Friend​.tech imitates Stars Arena's patch to fix exploit following loss of funds

Friend​.tech imitates Stars Arena’s patch to fix exploit following loss of funds

Stars Arena, a Web3 social media app on Avalanche, recently experienced a malicious attack that resulted in the loss of some funds. The attack was discovered by a user named Lilitch.eth, who claimed that over $1 million was lost. However, the Stars Arena team confirmed that the actual losses were around $2,000 and that the exploit had been patched to prevent further damage.

Stars Arena is similar to Friend.tech, allowing users to buy tokenized assets issued by content creators. Since its launch, Avalanche has seen a significant increase in activity, with daily transactions rising by over 186% from Oct. 3 to 4.

Lilitch.eth took to social media to announce the attack and advised users to sell their shares in Stars Arena. However, some users accused Lilitch.eth of spreading fear and doubt. The Stars Arena team responded by stating that the exploit had been fixed and that attackers were spending more in gas fees than they were able to extract from the app.

Lilitch.eth denied the claim that attackers were spending more in gas fees and stated that they stopped the attack when gas prices became too high. They also denied waging a “war” against the app and expressed support for it now that the issue has been resolved.

In light of recent SIM-swap attacks on Friend.tech and similar apps, the Friend.tech team implemented a function to remove login methods to address the problem.

Summary:

– Stars Arena on Avalanche experienced a malicious attack resulting in some fund losses.

– The attack was discovered by a user named Lilitch.eth, who claimed over $1 million was lost.

– The Stars Arena team confirmed losses of around $2,000 and patched the exploit.

– Stars Arena is similar to Friend.tech, allowing users to buy tokenized assets.

– Avalanche has seen increased activity since Stars Arena’s launch.

– Lilitch.eth advised users to sell their shares in Stars Arena but was accused of spreading fear and doubt.

– The Stars Arena team stated that the exploit had been fixed and attackers were spending more in gas fees than they were able to extract.

– Lilitch.eth denied the claim and expressed support for the app after the issue was resolved.

– Friend.tech implemented a function to remove login methods to combat SIM-swap attacks.

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