How Stars Arena Survived a $2K AVAX Exploit and Fought Back Against FUD

How Stars Arena Survived a $2K AVAX Exploit and Fought Back Against FUD
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Stars Arena, a decentralized social media platform inspired by, has faced a recent exploit that resulted in the loss of $2,000 worth of Avalanche (AVAX) tokens. The platform, which runs on the Avalanche network, allows users to create and trade digital tickets that represent their social influence.

The exploit involved a vulnerability in the platform’s “getPrice()” function, which allowed attackers to sell zero tickets and receive AVAX tokens in return. However, the attack was not very profitable, as the hackers spent more on gas fees than they earned from the exploit.

Stars Arena Blamed Competitors for the Attack

According to Ava Labs CEO Emin Gün Sirer, the attackers spent $0.25 for every $0.04 they made. The Stars Arena team quickly fixed the vulnerability and dismissed the incident as a “coordinated FUD” campaign by “monopolistic forces” that want to stifle innovation and diversity in the social media space. 

In a series of tweets, the team claimed that they are “at war” with malicious actors who want to steal users’ money and rights. The team also defended its decision to fork, a popular social finance platform that runs on its own blockchain. 

Stars Arena Blamed Competitors for the Attack

They argued that is too centralized and expensive and that users deserve more choices and freedom. They said that Stars Arena is not a copycat, but a “reimagined” version of that leverages the scalability and low fees of Avalanche.

Stars Arena is one of the many platforms that have emerged in the social finance sector, which combines social media and cryptocurrency to create new ways of monetizing online content and influence. Other examples include Alpha on Bitcoin, Friendzy on Solana, and PostTech on Arbitrum.

Despite the competition, remains the dominant player in the market, with over $293 million in monthly trading volume. The platform has attracted many celebrities and influencers who have created their own tokens and communities on

The price of Avalanche’s AVAX remained mostly in the green during the controversial exploit, rising nearly 6% in the last 24 hours, and is currently trading at $10.59 according to CoinMarketCap.


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