With insights from social media reports, Stars Arena, a Web3.0 social media app on Avalanche has lost some of its funds due to a malicious attack, stated Cointelegraph.
Sources revealed that on October 2, 2023, Stars Arena tweeted that its user Lilitch.eth discovered the exploit claiming that over $1 million was lost. It is believed that Stars Arena confirmed the attack, calling it a “war” against the app. Supposedly, the attack only resulted in a loss of about $2,000 and the exploit had been patched.
Some users are believed to accuse Lilitch.eth of “fudding” (spreading fear, uncertainty and doubt). Also, Mork, developer, ZSwa, is believed to have mentioned “no exploiter can profit from this because the gas to run the tx is higher than the Avax extracted” and that “they are proxy contracts – able to be updated,” Cointelegraph added.
Furthermore, Lilitch.eth is believed to have denied that attackers had been spending $5 in gas to drain $1. “Nobody was spending 5$ to get 1$ from your TVL, chill,” Lilitch.eth told Cointelegraph.
(With insights from Cointelegraph)
