Osmosis validator FireStake admits it drained $2 million during Osmosis exploit

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.

Timeline of Osmosis

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.