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DeFi News

Stars Arena’s Relaunch With Trading Pause

Written By Jalpa Bhavsar
Published 2023-10-16
Make The Crypto Times preferred on GoogleGoogle
Stars Arena's Relaunch with Trading Pause

Stars Arena, a social finance app based on Avalanche, announced its relaunch on Sunday, although trading features will be temporarily suspended.

We're live. Just no trading… yet pic.twitter.com/vkRFUdY68Q

— The Arena ⚔️ (@TheArena) October 15, 2023

The Stars Arena has posted on Twitter, “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 app is now live, although its trading functionality will continue after an audit. Stars Arena stated in a separate post that trading will not start again until the contract has been made available for public review and the entire audit has been released.

This relaunch is taking place following the devastating hack in October that cost roughly $2.9 million in AVAX tokens. After the hack, the social finance platform managed to retrieve around 90% of the stolen funds. 

The team verified that this was feasible following negotiations with the attacker, and it returned 239,493 AVAX in exchange for a 10% bounty.

Disclaimer: The information researched and reported by The Crypto Times is for informational purposes only and is not a substitute for professional financial advice. Investing in crypto assets involves significant risk due to market volatility. Always Do Your Own Research (DYOR) and consult with a qualified Financial Advisor before making any investment decisions.

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