• Bitcoin
  • NFT
  • Binance
  • ETH
  • DeFi
  • Metaverse
  • IDO
  • Coinbase
  • Solana
  • ETF
  • FTX
  • GameFi
Newsletter
  • Home
  • Crypto News
  • Market
  • Learn
No Result
View All Result
  • Home
  • Crypto News
  • Market
  • Learn
No Result
View All Result
CoinLive
No Result
View All Result
Home Crypto News

Stars Arena CEO resigns, SocialFi undertaking strives to rebuild local community believe in

189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

It has been announced that Chill Pill, CEO of the Stars Arena social networking undertaking on Avalanche, will no longer hold his place powerful October 29th.

Stars Arena CEO resigns, SocialFi undertaking strives to rebuild local community believe in

Related articles

New CEO Richard Teng wants to turn Binance into "a normal financial company"

New CEO Richard Teng desires to flip Binance into “a normal financial company”

November 27, 2023
Azuki DAO changed its name, "transformed" into a memecoin project

Azuki DAO transformed its identify, “transformed” into a memecoin undertaking

November 27, 2023

According to a brief announcement on X, Stars Arena stated that Mr. Chill Pill resigned as CEO on October 29th. The undertaking also does not share any even more specifics about why.

As of these days, Chill Pill has stepped down from his purpose as CEO.

We will carry on to consider sizeable ways towards rebuilding believe in with our local community.

— Stars Arena (@starsarenacom) October 29, 2023

However, the SocialFi undertaking says it will carry on to produce and rebuild local community believe in, which had diminished relatively when the platform was drained of $three million in AVAX by end users, the mastermind of the undertaking, in early October. “half-suspected” of getting portion of the undertaking, the attacker then made a decision to return the income and hold ten% as a reward for the bug.

Data Defillama exhibits that the existing TVL on Stars Arena is significantly less than $330,000, though the undertaking had just celebrated reaching $two.eight million prior to the assault occurred.

Stars Arena TVL. Source: Defillama

Before getting hacked, Stars Arena encountered a safety flaw when enabling any one to withdraw income from the sensible contract. Although it has been up to date and fixed, the incident exhibits that Stars Arena is developed on foundations that are not genuinely protected and safe.

Furthermore, Stars Arena on October 27 also announced that it has registered a legal entity to set up a organization to signify the undertaking, with the aim of raising capital to preserve operations.

The Arena is now prepared to consider concrete ways in direction of funding. It’s been a prolonged street from the early days to today’s founding workforce formalizing a organization prepared to start off a seed round.

We have collaborated with @AvalaunchApp to manual us via our funding round and advise us on…

— Stars Arena (@starsarenacom) October 26, 2023

Launched at the finish of September, Stars Arena quickly attracted the interest of end users by “copying” the very productive social network model SocialFi by pal.tech and place it on Avalanche. Stars Arena lets end users to connect X accounts (Twitter). The application will instantly generate a wallet that will make it possible for end users to deposit, acquire and promote shares with Avalanche’s AVAX coin.

Coinlive compiled

Maybe you happen to be interested:

Join the discussion on the hottest troubles in the DeFi marketplace in the chat group Coinlive Chats Let’s join the administrators of Coinlive!!

Tags: ArenaArena of the StarsCEOCommunityprojectrebuildresignsSocialFistarsstrivesTrust
Share76Tweet47

Related Posts

Hackers Steal $140M from Brazilian Bank via Insider Access

by shark
July 7, 2025
0

Hackers breach Brazilian bank accounts, steal $140M using insider access. Bitcoin, Ethereum involved.

Turkey Blocks PancakeSwap and 45 Crypto Websites

by shark
July 7, 2025
0

Turkey's CMB blocks PancakeSwap and 45 crypto sites amid regulatory crackdown.

Bitcoin Whale Address Potentially Hacked Raises Alarms

by shark
July 7, 2025
0

A dormant Bitcoin whale address containing around $8.6 billion has shown unusual activity, sparking fears of a potential hack and...

World Liberty Financial Proposes Community Vote on Token Trading

by shark
July 7, 2025
0

World Liberty Financial, a DeFi platform backed by the Trump family, announces a community vote to decide the trading status...

Binance Founder Reflects on Crypto Entry Timing

by shark
July 6, 2025
0

Changpeng Zhao's reflections highlight the impact of early Bitcoin adopters and address scrutiny of Binance's transparency measures.

Load More

Tags

analysis announces Bank billion Binance Bitcoin Blockchain BTC CEO Coin Coinbase Crypto cryptocurrencies Cryptocurrency DeFi ETH Ethereum Exchange Finance FTX fund game General News Information Investment Latest Launch launches market Metaverse million Network News NFT platform Price project Protocol Review SEC Solana Token trading users wallet

Recent Posts

  • Hackers Steal $140M from Brazilian Bank via Insider Access
  • 4 Top Altcoins to Watch in 2025: BlockDAG, HYPE, ONDO, and XMR Compared
  • Turkey Blocks PancakeSwap and 45 Crypto Websites
  • Bitcoin Whale Address Potentially Hacked Raises Alarms
  • World Liberty Financial Proposes Community Vote on Token Trading
  • Binance Founder Reflects on Crypto Entry Timing
  • Amber International Shares Decline After Crypto Reserve Expansion
  • Arctic Pablo, Artificial Liquid Intelligence, and Shiba Inu: Top Meme Coins to invest in This Week
  • About
  • FAQ
  • Contact Us
  • IGO
  • Altcoin
  • Terra
  • Launchpad
  • P2E
  • META
  • AXS
Email us: [email protected]

© 2021 CoinLive - Crypto News 24/7

No Result
View All Result
  • Home
  • Crypto News
  • Market Analysis
  • Learn

© 2021 CoinLive - Crypto News 24/7