Stars Arena, a SocialFi platform operating on the Avalanche blockchain, has successfully recovered approximately 90% of the funds lost in a smart contract exploit.
According to the official X account, an agreement was reached with the attacker responsible for the breach.
The recovery process was not without its conditions, as the exploiter demanded a 10% bounty (around $250K at current prices) in exchange for returning the lost funds.
Avalanche-Based App Stars Arena Loses $3M in Smart Contract Exploit
A smart contract exploit, combined with a DDoS attack resulted in total value locked (TVL) dropping to zero from nearly $1.3 million.
Stars Arena had gained considerable momentum in the SocialFi space before the exploit on Oct. 7, with TVL peaking just under $3M, according to DeFiLlama.
