Although Stars Arena claims to have refreshed its application, all features are now operational. According to Stars Arena, the platform’s trading capability has been momentarily suspended. When the service is resumed, a different announcement will be made. This Sunday will see a partial reopening, according to a statement from the SocialFi protocol.
Further clarification from Stars Arena states that the trading services won’t start up again until the audit has been completed and the smart contract is available for public scrutiny.
A few days prior to the development, the platform allowed users to recover almost 90% of the money that had been stolen by a hostile actor. On October 7, 2023, there was a breach in the network. The recovery was made feasible via conversations with the attacker, the team disclosed. They were given 1,000 AVAX tokens and a 10% bonus. 266,104 dollars were lost in all, while 239,493 tokens were handed out. Two equal transactions returned tokens.
The impact of the hack on the token and community was clear. The native token’s trading value reportedly climbed due to the Stars Arena breach to $9.01 with a volume of roughly 120.36 million. As of right now, the market capitalization was $3,193,448,814, down 4.285%.
The platform is currently operational with some restricted features, and it is anticipated that all features, including trading, will soon be operational. The audit that Stars Arena is undergoing will be finished once trading capabilities are available.
The smart contract must also be open source so that anyone can examine it. The team won’t formally declare that the application is online with all of the features for users until that time.