Arena SocialFi
Last changed 2026-10-10 · Score recalculated — Rescored under Scoring v2, the published formula (avoid.net/scoring): 32 → 51. Problems weighed by who is responsible: concerns that are not fraud −9.6, incidents the subject suffered −6.4, problems around the subject, caused by others −2.4; legitimacy credit long-running +4. Version history →
Why this score
| Every page starts at | 65 |
| Concerns that are not fraud | -9.6 |
| Incidents it suffered (e.g. hacks) | -6.4 |
| Problems around it, caused by others | -2.4 |
| Long-running | +4 |
| Sum | 51 |
Score: 51/100 (kept between 0 and 100)
How scoring works →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- 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%)
Connected Through
5 shared actors · 497 investigationsDistinct actors this investigation shares with others — holders, traders, and named parties. Shared infrastructure (exchanges, pools) is excluded.
- □ZachXBTorganization
- □Baseorganization
- □Avalancheorganization
- □Monad (MON)organization
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.
Decision Log
- slot 455366711 · hash 4EBLyZgbs7iRBzKQKDaJ6EaEUhkdUbZ1H6whsAMvTFYk
- slot 422555107 · hash CVjBS6LmQYJawm6KFmVkmHeHWh27d8BBjRx4q6yisbmH
This investigation is cryptographically anchored to the Solana blockchain (2 decisions). 22 of 24 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 5/4/2026, 2:54:37 AM
last updated: 10/10/2026, 6:46:49 PM
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