Osmosis Exploiters Return $2M After Swindling $5M – New Data Surfaces

Osmosis is the latest crypto project to encounter an unexpected attack, as the looters made away with $5 million. The past few weeks haven't been easy for crypto projects, especially exchanges.

Timeline of Osmosis

Osmosis will cover the exploit losses reportedly as the cause of the liquidity pool exploit was identified and a new blockchain update will be pushed in the next 48 hours so let's read more today in our latest blockchain news. The Osmosis chain will remain halted for the next two days after a liquditiy pool

After yesterday's drain attack, the Osmosis team published an update thread on Twitter stating that all the losses will be compensated. The post Osmosis team says ‘all losses will be covered' appeared first on CryptoSlate.

The DEFI exchange Osmosis got hit with a $5 million exploit in a recent hack which forced developers to halt the network as we can see more today in our latest cryptocurrency news. The DEFI Exchange Osmosis is built using CosmosSDK and was exploited today, draining up to $5 million from the liquidity pools.

FireStake, a validator on the Osmosis network, admitted that it took advantage of the blockchain's recent exploit to take $2 million. The post Osmosis validator FireStake admits it drained $2 million during Osmosis exploit appeared first on The Block.

Osmosis decentralized exchange succumbed to a breach losing about $5 million from its liquidity pool. According to the update, the hackers were able to discover a bug in the LP, using it to breach the platform.

Osmosis, the Cosmos-based interchain automatic market maker (AMM), recently announced the launch of the Osmosis Grants Program. Created following a successful on-chain governance vote, the Osmosis Grants Program “funds community-built tooling and infrastructure to grow the long-term utility of Osmosis and increase its user base.