For real this time.
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Back in the far off time of late December 2020, Cloud Imperium Games said that they were totally going to do their first ever live event in Star Citizen. Well, that didn't happen. It was delayed because it's Star Citizen and delays are just expected for everything. You know it, I know it, my pets know it.

Fortunately, the first ever dynamic event launches today in Star Citizen. It only took a bit over a month to come to fruition, but players can now engage in epic space battles featuring large capital ships against the "XenoThreat."

What:
CIG is calling on all pilots to join the fight against the terrorist organization known as “XenoThreat” in the game’s first-ever, server-wide Dynamic Event. Unmatched in size, scope, and scale for any prior event in Star Citizen to-date, the “Assault on Stanton” Dynamic Event features multiple phases scheduled to play out over multiple days as pilots band together and rally to the defense of the Stanton System.

This will be the first time Star Citizen pilots will have the chance to join forces with the UEE Navy and lead assaults against enemy capital ships. Expect large-scale encounters featuring AI controlled fleets including capital ships.
This event is underway right now, February 5, and will play out over the course of "a series of days." Ultimately, its final length will be determined on player participation and progress through multiple phases.

To participate, you will join the Assault on Stanton Dynamic Event. Pilots will log in and check for an alert from the Civilian Defense Force (CDF). From there, a liaison will provide further instructions.

Live updates for the event will be shared on some of CIG's social media channels, including Facebook, Twitter, and their website.