🚨Breaking news, BTC enthusiasts!🚨 The Avalanche-based social app Stars Arena has been hacked, with the attackers swiping nearly all funds, totaling around $2.9 million in AVAX tokens. 😱 Launched just a week ago, the platform quickly gained attention, amassing over 25,000 followers. 🚀

The Stars Arena team announced the exploit on Saturday, revealing a breach in the smart contract. 🕵️‍♂️ Blockchain security resource PeckShield estimates the stolen amount to be close to $3 million in AVAX tokens. 😵

Interestingly, Avalanche's founder, Emin Gün Sirer, downplayed warnings about potential security vulnerabilities in Stars Arena's smart contract just a few days before the attack. 🤔

The Stars Arena team has since apologized for the incident and warned users to stay away from the site due to an ongoing DDoS attack. They are working on finding a solution to recover the funds. 💪 Stay tuned for updates! 📰