Stars Arena has relaunched but with a pause on trading functionality

Quick Take

  • Stars Arena has relaunched, but with a pause on trading functionality until a full audit has taken place.
  • The web3 social media app managed to recover 90% of the AVAX tokens taken in the exploit.

The Avalanche AVAX +11.05% -based web3 social finance app relaunched Sunday, but with a pause on trading functionality, according to a Stars Arena post.

"The Arena will re-open on Sunday with a pause on trading functionality. There will be a separate announcement on trading being resumed, shortly after the relaunch," the SocialFi protocol posted on

The app is now live, but trading functionality will only resume after an audit. "Trading will only resume once the full audit has been published and the contract has been open-sourced for community review," Stars Arena said in an additional post.

Coming back from an exploit


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Stars Arena was hacked on Oct. 7 for approximately $2.9 million worth of AVAX tokens. The exploit led to the loss of all funds locked in its smart contract.

Following the hack, the social finance platform managed to retrieve around 90% of the stolen funds. The recovery was made possible after a negotiation with the individual responsible for the attack, the team confirmed. The hacker returned 239,493 AVAX in exchange for a 10% bounty, the Stars Arena team confirmed.

Stars Arena is an on-chain social finance app built on the Avalanche blockchain. It operates as a forked iteration of FriendTech, an app that lets you buy tokens that give access to an individual's chat room. 

© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Author

Brian McGleenon is a UK-based markets reporter for The Block. He has worked as a financial journalist and producer for multiple news outlets over the years, such as Fuji Television, The Independent, Yahoo Finance, The Evening Standard, and The Daily Express. Brian is also a screenwriter and producer with one feature film produced and one in development with Northern Ireland Screen. Apart from web3 and cryptocurrency developments, he is also interested in geopolitics, environmental issues, artificial intelligence, and longevity research. Get in touch via email [email protected].


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