Stars Arena Rebrands to The Arena

The Avalanche ecosystem’s social protocol, Stars Arena, is undergoing a transformation and rebranding, adopting the new name “The Arena.”

In the upcoming days, users can expect subtle changes to the user interface and to the platform.

Aside from a change in branding, there appears to be no other changes to the platform.

Additionally, there will be a migration of its domain name, though specifics on when this change will occur has not been stated.

Users are advised to exercise caution to avoid potential risks associated with fake accounts or phishing links during this transition.

In a security incident earlier this year, Friend.tech clone Stars Arena identified and reported a vulnerability within its platform.

This flaw resulted in hackers extracting approximately $2.9 million worth of Total Value Locked (TVL) from the platform’s smart contract.

A total of 266,104 AVAX was compromised.

However, Stars Arena successfully recovered 239,493 AVAX through a white hat bounty program.

Despite these security setbacks, the social platform has maintained a daily active wallet count, consistently hovering around the 1,000 mark.

Nevertheless, there is a noticeable trend indicating a gradual slowing down of the platform’s influence.

* Original content written by Coinlive. Coinbold is licensed to distribute this content by Coinlive.