{"id":182336,"date":"2023-10-06T07:39:02","date_gmt":"2023-10-06T07:39:02","guid":{"rendered":"https:\/\/precoinnews.com\/?p=182336"},"modified":"2023-10-06T07:39:02","modified_gmt":"2023-10-06T07:39:02","slug":"socialfi-app-stars-arena-dispels-coordinated-fud-after-patching-noob-vulnerability","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/socialfi-app-stars-arena-dispels-coordinated-fud-after-patching-noob-vulnerability\/","title":{"rendered":"SocialFi app Stars Arena dispels \u2018coordinated FUD\u2019 after patching \u2018noob\u2019 vulnerability"},"content":{"rendered":"
The team behind the new Friend.tech-inspired protocol Stars Arena has dismissed what it called \u201ccoordinated FUD\u201d after patching an exploit that saw attackers escape with $2,000 from the Avalanche-based decentralized social media platform.<\/p>\n
In an Oct. 5 post on X (Twitter), the Stars Arena account said the exploit was fixed, adding, \u201cDon\u2019t get this wrong, we are at war.\u201d<\/p>\n
Pseudonymous X user \u201c0xlilitch\u201d took a swipe at Stars Arena, saying its \u201cnoob devs\u201d missed patching a vulnerability in the platform\u2019s price function allowing the attackers to sell zero user \u201ctickets\u201d in exchange for technically free Avalanche AVAX (AVAX) tokens.<\/p>\n
However, the attack vector reportedly turned out to be economically unfeasible for the attackers. The exploit itself caused a major surge in the gas fees on Avalanche, which made extracting the earnings from the hack far more expensive than anticipated.<\/p>\n
As a result, the attackers supposedly ended up spending more on gas fees than they netted from the exploit.<\/p>\n
Ava Labs CEO Emin G\u00fcn Sirer highlighted in an X post that for every $0.04 earned from the exploit, the hackers spent an average of $0.25.<\/p>\n
Despite the relatively unsuccessful exploit, crypto community members were quick to lash out at the Stars Arena team.<\/p>\n
Related: <\/em><\/strong>Friend.tech SIM-swap scourge continues as scammer nets $385K in Ether<\/em><\/strong><\/p>\n The pseudonymous founder and developer of Delegate, known as \u201cFoobar,\u201d slammed the platform, claiming it botched its Friend.tech fork, and told Stars Arena to \u201cdelete your account and product, clownshow.\u201d<\/p>\n Stars Arena is the latest app to join a growing roster of social finance platforms, such as Alpha on the Bitcoin network, Friendzy on Solana and PostTech on Arbitrum.<\/p>\n Despite the surge in similar DeSo apps, Friend.tech remains the market leader with more than $293 million in monthly trading volume and outpaces the next-closest app, PostTech, by more than $283 million.<\/p>\n Magazine: <\/em><\/strong>Blockchain detectives \u2014 Mt. Gox collapse saw birth of Chainalysis<\/em><\/strong><\/p>\n