{"id":4924,"date":"2023-10-07T12:17:53","date_gmt":"2023-10-07T12:17:53","guid":{"rendered":"https:\/\/coinengineer.io\/blog\/?p=4924"},"modified":"2023-10-07T12:17:53","modified_gmt":"2023-10-07T12:17:53","slug":"stars-arena-lost-2-9-million-due-to-hack-attack","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/stars-arena-lost-2-9-million-due-to-hack-attack\/","title":{"rendered":"Stars Arena Lost $2.9 Million Due to a Hack Attack!"},"content":{"rendered":"<p>Stars Arena Lost $2.9 Million Due to a Hack Attack! Stars Arena, a social media platform and SocialFi application, was successfully conducting its business inspired by<a href=\"https:\/\/coinengineer.net\/blog\/what-is-post-tech-socialfi-on-arbitrum-network\/\" target=\"_blank\" rel=\"noopener\"><strong> Friend.tech<\/strong><\/a>. Recently, due to a security vulnerability, the platform allowed hackers to seize <strong>$2000<\/strong> from the platform. However,\u00a0<span style=\"font-size: 14.4px;\">the team have <\/span><span style=\"font-size: 14.4px;\">determined <\/span><span style=\"font-size: 14.4px;\">this situation quickly and <\/span><span style=\"font-size: 14.4px;\">closed <\/span><span style=\"font-size: 14.4px;\">the security flaw immediately.<\/span><\/p>\n<p>Ava Labs CEO <strong>Emin G\u00fcn Sirer<\/strong>\u00a0tweeted the attackers spent much more money compared to the revenue they obtained from this attack. In his tweet, Sirer pointed out that the attackers spent $0.25 for each $0.04 gain.<\/p>\n<p>However, these attacks repeated again. Because of this, the ongoing attack led to much bigger damage. So, this attack caused that Stars Arena Lost $2.9 Million.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p dir=\"ltr\" lang=\"en\">Our initial analysis on today&#8217;s <a href=\"https:\/\/twitter.com\/starsarenacom?ref_src=twsrc%5Etfw\">@starsarenacom<\/a> $2.9M hack indicates a reentrancy issue on the Stars Arena: Shares contract at <a href=\"https:\/\/t.co\/Hg6C8MCPan\">https:\/\/t.co\/Hg6C8MCPan<\/a><\/p>\n<p>The reentrancy is abused to update the weight when the share\/ticket is issued so that 1 share can be sold at a much higher price\u2026 <a href=\"https:\/\/t.co\/17CxO3uLbe\">https:\/\/t.co\/17CxO3uLbe<\/a> <a href=\"https:\/\/t.co\/fouVjevYTs\">pic.twitter.com\/fouVjevYTs<\/a><\/p>\n<p>\u2014 PeckShield Inc. (@peckshield) <a href=\"https:\/\/twitter.com\/peckshield\/status\/1710555944269292009?ref_src=twsrc%5Etfw\">October 7, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The analyses made on this last Stars Arena attack reveal how the hackers carried out and stole millions. According to the PeckShield Inc.&#8217; s report, a Blockchain security and data analysis company, the hackers <span style=\"font-size: 14.4px;\">carried out <\/span><span style=\"font-size: 14.4px;\">the attack\u00a0 through a <\/span><strong style=\"font-size: 14.4px;\">reentrancy<\/strong><span style=\"font-size: 14.4px;\"> issue in the Stars Arena: Shares contract. The reentrancy issue is exploited to update the weight when the share\/ticket is issued, so that 1 share can be sold at a much higher price or about <\/span><strong style=\"font-size: 14.4px;\">274 thousand $AVAX<\/strong><span style=\"font-size: 14.4px;\">.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p dir=\"ltr\" lang=\"en\">There has been a major security breach with the smart contract.<\/p>\n<p>We&#8217;re actively checking the issue.<\/p>\n<p>DO NOT deposit any funds.<\/p>\n<p>Stay tuned for updates.<\/p>\n<p>\u2014 Stars Arena (@starsarenacom) <a href=\"https:\/\/twitter.com\/starsarenacom\/status\/1710540444075978846?ref_src=twsrc%5Etfw\">October 7, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In a statement, the team of Stars Arena informed users not to deposit any funds. Also, they said that work is ongoing due to the security breach that occurred.<\/p>\n<hr \/>\n<p><em>You can freely share your thoughts and comments about the topic in the comment section. Additionally, please don\u2019 t forget to follow us on our\u00a0<a href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Telegram<\/strong>,\u00a0<\/a><a href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>YouTube<\/strong><\/a>\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/coinengineers\"><strong>Twitter<\/strong><\/a> channels for the latest news.<\/em><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Stars Arena Lost $2.9 Million Due to a Hack Attack! Stars Arena, a social media platform and SocialFi application, was successfully conducting its business inspired by Friend.tech. Recently, due to a security vulnerability, the platform allowed hackers to seize $2000 from the platform. However,\u00a0the team have determined this situation quickly and closed the security flaw<\/p>\n","protected":false},"author":1,"featured_media":4923,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,2],"tags":[1830,272,274,992,1460,1772],"class_list":["post-4924","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-news","tag-ava-labs","tag-avax","tag-emin-gun-sirer","tag-friend-tech","tag-socialfi","tag-stars-arena"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Stars Arena Lost $2.9 Million Due to a Hack Attack! - Coin Engineer<\/title>\n<meta name=\"description\" content=\"Stars Arena which is a social media platform and SocialFi application, Lost $2.9 Million Due to a Hack Attack.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/stars-arena-lost-2-9-million-due-to-hack-attack\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Stars Arena Lost $2.9 Million Due to a Hack Attack! 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