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- The Stars Arena has revealed that evil forces have been stealing money through a sneaky loophole, which is a huge statement. However, the team acted quickly and patched the contract to prevent any further damage.
- Lilitch.eth published a stunning announcement on X on October 5, declaring, “An astounding $1.1 Million is currently being siphoned away, thanks to novice developers who couldn’t effectively reproduce Friend.tech’s features.
- Users of Friend.tech have been forced to contend with a constant barrage of SIM-swap attacks, which has put the community there and those of other similar applications on edge.
The Stars Arena has revealed that evil forces have been stealing money through a sneaky loophole, which is a huge statement. However, the team acted quickly and patched the contract to prevent any further damage.
Similar to the well-known Friend.tech, Stars Arena enables users to obtain ‘shares’ in the form of tokenized assets that are generously awarded by content producers. These tokens grant their owners special access to materials as well as other alluring advantages. The Avalanche network has seen a significant increase in activity since the debut of Stars Arena, with daily transactions surging by an astounding 186% from October 3 to 4.
News
Lilitch.eth published a stunning announcement on X on October 5, declaring, “A staggering $1.1 million is currently being siphoned away, courtesy of inexperienced developers who couldn’t replicate Friend.tech’s functionality successfully. If you happen to possess ANY SHARES in Stars Arena, it would be prudent to divest while the opportunity still exists.” A screenshot of a smart contract with an estimated value of 107,329 AVAX, or more than $1 Million at the time, was attached to this statement.
In response, some people accused Lilitch.eth of ‘fudding’ or spreading mistrust, apprehension, and trepidation. For instance, ZSwap developer Mork said that these were proxy contracts and that “no exploiter could profit from this endeavour, given that the cost of gas for executing the transaction exceeded the extracted Avax.”
In response, the Stars Arena crew strongly asserted on X, “THE EXPLOIT HAS BEEN RECTIFIED.” In an apparent attempt to damage the platform’s credibility through ‘coordinated FUD’ (fear, uncertainty, and doubt), they claimed that the attackers were spending $5 in petrol expenses to steal just $1 from it. The team even held a Twitter Spaces event to explain the situation to their user base, stating that the attack’s financial losses were a pitiful $2,000 in total.
Lilitch.eth fiercely refuted the team’s assertion that the assailants were shelling out $5 in gas costs in exchange for a $1 take. “Nobody would spend $5 to obtain $1 from your TVL (Total Value Locked), relax,” they argued, claiming that the attackers stopped their efforts whenever petrol prices hit a level at which the attack was no longer profitable. Lilitch.eth also rejected the idea of launching a ‘war’ against the platform. When the app had been strengthened, they expressed support for it in a later post, saying, “The conflict has been resolved, and we are now allies.” To the moon, @starsarena.
Conclusion
Users of Friend.tech have been forced to contend with a constant barrage of SIM-swap attacks, which has put the community there and those of other similar applications on edge. As part of their proactive approach to addressing this persistent problem, the Friend.tech team implemented a mechanism to eliminate specific login methods on October 5.
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