Web3 social media platform Stars Arena says it has recovered nearly all of the crypto stolen from an Oct. 7 exploit \u2014 minus a 10% bounty to the person responsible.<\/p>\n
In an Oct. 11 X (Twitter) post, Stars Arena said around 90% of the 266,000 Avalanche (AVAX) exploited, at the time worth around $3 million, was returned after reaching an agreement to give a 27,610 AVAX bounty worth nearly $257,000 to the exploiter.<\/p>\n
The bounty also included compensation for 1,000 AVAX worth over $9,000 seemingly lost by the exploiter in a bridge.<\/p>\n
In a separate post, Stars Arena added it had written a new smart contract and before placing the returned funds and launching, it was finalizing an audit of the new contract.<\/p>\n
Stars Arena first alerted its community to the exploit on Oct. 7, calling it a \u201cmajor security breach\u201d with its smart contract leading to funds being drained. <\/p>\n
In a subsequent post, Stars Arena said it secured funding to plug the hole left by the exploit and it had contracted a development team to do a full security audit, though the team has yet to detail how the exploit took place. <\/p>\n