DEFISECURITY

FT (Financial Times) simulated trading platform Stars Arena hacked, losing approximately 2.9 million USD

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FT (Financial Times) simulated trading platform Stars Arena hacked, losing approximately 2.9 million USD

FT Friend.Tech, a simulation platform called Stars Arena, recently launched on the Avalanche public blockchain, has suffered a major security incident, with losses of approximately 2.9 million US dollars at the time of writing.

Stars Arena: Smart Contract Under Major Attack

The official announcement from Stars Arena on the afternoon of October 7th indicated that they have encountered a major vulnerability in their smart contract, which is currently being addressed. Do not deposit any funds.

Cybersecurity Firm: Stars Arena Loses Approximately $2.9 Million

Twitter user @0xLawliette may have been one of the first to discover the attack on Stars Arena. They noticed funds continuously being withdrawn from the smart contract without any corresponding withdrawal transactions.

They urge people to unlink their Twitter account from Stars Arena and withdraw their funds.

According to cybersecurity firm PeckShield's statistics, Stars Arena has lost approximately $2.9 million. PeckShield analysis

Avalanche Founder Endorses It, Only to Discover Vulnerability Shortly After

The founder of Avalanche was also involved with Stars Arena, as he had earlier asked on Twitter which platform people found most enjoyable. Despite this, Twitter was the top choice.

Just the day before, a vulnerability in Stars Arena was discovered, and after it was fixed, they shared encouraging words like "We will fight, survive, and win" to ease the situation. Avalanche founder Emin Gün Sirer also mentioned that the incident only resulted in a $2,000 loss. Little did they know a major hack would occur the next day.