Odaily Star Planet Daily News reported that Stars Arena announced on X platform that all assets have been transferred from the original team to a new team led by CEO Jason Desimone. All "former team members" have been expelled and will not continue to play a role in SA's future. In addition, Stars Arena stated that Paladin Blockchain Security is auditing its contract and advancing vulnerability repairs, with TVL gradually approaching $1 million.

Former team member of Stars Arena, @KookCapitalLLC, posted on X platform and @Stars Arena and AVAX, stating that they will soon expose the fraud of Stars Arena and are willing to accept 690,420 USDT to keep it confidential. If payment is not made within 24 hours, the relevant information will be distributed to anyone who forwards it. Kook said that greed killed Stars Arena. Previously, Chill Pill deceived everyone, but lost control.

According to Avalaunch, a DeFi platform based on Avalanche, after careful consideration of recent events, it has decided to terminate its cooperation with Stars Arena. Avalaunch stated that during the early launch of Stars Arena, considering the active data that the project brought to Avalanche, Avalaunch contacted the Stars Arena team to explore how to provide assistance. Unfortunately, too many uncomfortable or incomprehensible things have happened around the project recently. Although there is only an informal cooperation relationship between the two teams at present, since Stars Arena mentioned the cooperation between the two parties on social media last week, it is necessary to synchronize this information with the community for clarification.

Frend.tech's Stars Arena, a mimicry platform in the Avalanche ecosystem, announced in a tweet that Chill Pill has resigned from its CEO position as of today. Stars Arena stated that they will continue to take important measures to rebuild trust with the community.

The social protocol Stars Arena on the Avalanche ecosystem announced on X platform that Arena is preparing to take real financing measures. The founding team from the early days to today has officially identified a company that is ready to enter the seed round of financing, which is a long road. We are working with Avalaunch to provide guidance on the financing process and provide suggestions for building a sustainable economy, while rewarding users and creators in the process of Arena's development. Arena welcomes their support as we take steps to establish ourselves as one of the most influential native cryptocurrency applications.

John Wu, the president of Ava Labs, has made some predictions for the crypto industry in 2024. He believes that a SocialFi DApp called Stars Arena, which launched on the AVAX blockchain in September, will figure out the business model and become successful. Wu also predicts that the SEC will approve a spot Bitcoin ETF, which could lead to a lot of inflow. Ava Labs plans to roll out real-world assets, some of which will be announced in November, and Wu believes these developments will be game-changing for the Avalanche ecosystem.

According to DefiLlama data on October 19th, Stars Arena's TVL decreased by over 600,000 AVAX (over $500,000) compared to the previous day, a decrease of 35%. October 18th, after Stars Arena resumed trading, the current TVL reached $2.04 million according to on-chain data.

Stars Arena posted on X platform, stating that there was a data indexing problem. As a result, some users cannot see the details of what they hold and purchase on the platform. The team is currently fixing this issue.

According to on-chain data on October 18th, after the resumption of trading, the TVL of Stars Arena has reached $2.04 million.As previously reported, on October 18th, the FT imitation platform Stars Arena based on the A etwork resumed trading.

October 18th, according to on-chain data, the FT mirror Stars Arena based on the AVAX network has resumed trading. Previously reported that on October 18th, the FT mirror Stars Arena based on the AVAX network published the final audit report of its contract on social media and stated that it would restart trading at any time within the next 24 hours.