Coindesk’s accordingThe company came to know about this bug when a user deposited funds in a liquidity pool before withdrawing immediately. The value withdrawn by the user was 50% more than the money put in. This is being reported as a system error. The report cited Osmosis community analyst RoboMcGobo as noting that the team took 12 minutes to halt the blockchain after the breach was discovered.
User Discord Post wrote in “I cannot speculate about the cause of the bug, an ETA on chain restart, or the pools that were affected, as we are yet to [इसके बारे में] Don’t know.” Osmosis also confirmed the bug, raising the possibility that the bug could drain about $5 million from the liquidity pool.
Liquidity pools were NOT “completely drained”.
Devs are fixing the bug, scoping the size of losses (likely in the range of ~$5M), and working on recovery.
More info to come. https://t.co/WOu7MMgSUM
— Osmosis ????? (@osmosiszone) June 8, 2022
Osmosis wrote on Twitter, (translated) “Liquidity pool not ‘fully drained’. Developers are fixing bugs, reducing damage size (in the range of ~$5M), and working on recovery Doing. More details to come.”<!–