Crypto Mania

After the CEO resigns, the social media network Stars Arena loses another employee.

Another team member has left Stars Arena, an Avalanche-based web3 social finance app.

An individual using the X username @KookCapitalLLC has been “relieved of his duties as a Stars Arena team member,” the platform announced. “We are continuing with the transition to a new team without the presence of any former member.”

Social media users saw Kook’s departure as the result of “serious issues with management and direction for some time.” The resignation follows the day before on October 29, when Chill Pill, the CEO of Stars Arena, announced his resignation.

The hack reappears

A reentrancy issue resulted in the theft of $2.9 million worth of AVAX on October 7th at Stars Arena. The user wallets remained secure, but all the money in the smart contract was lost. In the end, Stars Arena was able to retrieve 90% of the lost money; the exploiter received a bounty on the remaining 10%.

“We’ve completed our transition to a legal entity allowing us to expand our in-house tech team following the exploit,” Stars Arena said on October 27, following the event.

“Our immediate priority for the arena is mitigating the bots in an efficient way and enabling faster user moderation with the implementation of a block button,” stated Stars Arena.

Members of the Stars Arena staff did not reply to a request for comment from The Block.

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