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Arena SocialFi

avoid.net/arena-socialfi→32/100·78% conf.
[AI-DRAFTED · AWAITING VERIFICATION][src:defillama]

Auto-generated score, not yet verified against the scoring model. Under review — treat as indicative, not a verdict.

anchored·3cYig7…kcr7

Summary

Arena SocialFi (originally Stars Arena, rebranded to The Arena) is an Avalanche-based SocialFi platform launched September 2023. The platform suffered a critical reentrancy exploit on October 7, 2023, losing approximately $2.9 million in AVAX; it subsequently recovered ~90% of stolen funds via a bounty agreement. Following the hack, the original team dissolved and the platform was acquired and rebuilt under new leadership, launching the ARENA token in 2024 and raising $2 million in pre-seed funding.

Connected Entities

6 entities · 60 linked investigations
Organizations
□Stars Arena33□Avalanche52□Monad (MON)42□Base68□ZachXBT82
Protocols
⌂Arena SocialFi
Relationships
  • Stars Arena→mentioned with→Avalanche(70%)
  • Arena SocialFi→mentioned with→ZachXBT(70%)
  • Arena SocialFi→mentioned with→Avalanche(70%)
  • Arena SocialFi→mentioned with→Base(60%)
  • Arena SocialFi→mentioned with→Stars Arena(80%)
  • Avalanche→mentioned with→Stars Arena(80%)
  • Arena SocialFi→mentioned with→Monad (MON)(65%)
Also appears in
Avalanche·52Monad (MON)·42Base·68Stars Arena·33StableMagnet·2Dean Daghita / CMDSS (Command Services and Support)·0Bankr·18Nexera·32SafePal·42BearnFi·12+ 50 more

Connected Through

5 shared actors · 508 investigations

Distinct actors this investigation shares with others — holders, traders, and named parties. Shared infrastructure (exchanges, pools) is excluded.

Have evidence about Arena SocialFi?

Timeline(12 events)

27 September 2023

Stars Arena launches on Avalanche C-Chain as a friend.tech competitor, built by pseudonymous developer 'theBuilder'.

5 October 2023

First exploit: attacker extracts approximately $2,000 in AVAX via a price function vulnerability. Avalanche Labs founder Emin Gun Sirer downplays the issue publicly.

7 October 2023

Second exploit: reentrancy attack drains 266,103 AVAX (~$2.9 million) from the Stars Arena smart contract, leaving it with less than $1. Team announces breach and halts deposits.

11 October 2023

Stars Arena announces 90% fund recovery after paying the exploiter a 10% bounty (~$257,000 plus 1,000 AVAX). New smart contract development begins with Paladin Security audit.

November 2023

Stars Arena CEO 'Chill Pill' resigns. Team member 'Kook' also departs citing management issues. Platform is acquired by a new team.

2024

Platform relaunches as 'The Arena' under new CEO Jason Desimone and COO Phillip Liu Jr., with a rebuilt smart contract and updated product.

September 2024

The Arena announces ARENA token launch with 10 billion total supply and airdrop for existing users based on accumulated platform points.

15 October 2024

The Arena secures $2 million in pre-seed funding, announced via Avalanche Foundation blog.

December 2024

The Arena's X account is compromised in a coordinated phishing campaign. ZachXBT reports the attacker breached 15+ X accounts and netted ~$500,000 via meme coin scams using the hijacked accounts.

9 June 2025

ARENA token reaches alleged all-time high of approximately $0.027.

24 November 2025

The Arena announces Monad Chain integration and Google/Apple sign-in support as part of V2 multichain expansion.

27 May 2026

ARENA token trading at approximately $0.00089, down approximately 96% from all-time high.

Provenance & Audit Trail
Anchored on SolanaVerify on-chain22 Wayback Archivessrc:defillama

Decision Log

This investigation is cryptographically anchored to the Solana blockchain (1 event). 22 of 24 cited source URLs have an Internet Archive snapshot.

full audit log →version history →

model: claude-sonnet-4-6

generated: 5/4/2026, 2:54:37 AM

last updated: 8/30/2026, 8:30:07 PM

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