The bug could have drained all the funds from the pools but so far, the reported damage is $5 million. Osmosis, however, managed to avert the crisis.
Cosmos-based DeFi protocol, Osmosis Network, was halted at block #4713064 on June 8th after spotting a critical vulnerability in its liquidity pools. The exploit took place just two blocks before the halt.by a Reddit user who warned if a customer deposits funds to an Osmosis pool would gain an extra 50% when removing it. The post has since been deleted.In one case, a malicious entity
“Update: The bug has been identified and a patch written. More testing is underway before validators are recommended to coordinate a restart. Full bug report and action plan for a more thorough and proper end to end testing of chain upgrades to follow in coming days.”on what transpired, including admitting that $5 million were overdrawn and promising to return all lost funds.
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