Starchi Staking Deployer’s Private Key Compromised, Liquidity Hacked

An ex-employee of Starter is responsible for over $400k in stolen liquidity

  1. WMATIC/ELIXIR pool: https://polygonscan.com/address/0x47c7070e2fb82c5c87c57cf04bf0c74880743f79

Next Steps

Unfortunately, our week-long attempt to recover the funds has been unsuccessful. As a result, the funds that were staked in Starchi LP pools are irretrievable and considered permanently lost. Single-sided staking pools were not removed by the hacker, but are affected by the lack of liquidity and token dump on the market. Other than the price of the token — which is a very important metric — START tokens that were staked in Starter.xyz were also not affected by the hack.

  1. staking requirements on future sales will remain intact, but affected wallets will be whitelisted for sales
  2. issuing a new START and a new ELIXIR token
  3. updated tokenomics that includes lowering the supply
  1. receive new tokens on a ratio of 1:1 (unaffected wallets will receive tokens at the ratio of previous supply to new supply — e.g. if new supply for START is 500000, unaffected wallets ratio will be 2:1)
  2. sharing 65% of all future 2022 IDO revenue across all chains (VIP+)
  3. sharing 10% of all future 2022 IDO revenue across all chains (non VIP+)
  4. automatic whitelist access to all 2022 IDOs (Platinum+)
  5. migrate remaining liquidity to the new tokens
  6. run a token generation event specifically to help restore liquidity

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Starter Labs

The leading IDO launchpad, incubator, and investor network for @0xPolygon, $ETH, $AVAX, $FTM, and #BSC $START https://starter.xyz