Developers and network participants took a blockchain offline on Tuesday night, making the "decentralized" cryptocurrency exchange running on top of it inoperable, after a bug let a hacker steal around $5 million.
A few hours earlier, a Reddit user called Straight-Hat3855 warned of the existence of the flaw on the Osmosis blockchain in a post on the subreddit of Cosmos Network, the ecosystem that hosts the vulnerable blockchain. The primary function of the Osmosis chain is to run its decentralized crypto exchange, which is an exchange that uses smart contracts and algorithms to enable token swaps and set prices.
“There is a serious problem with osmosis. If you add liquidity to a pool and then remove it, it grows by 50%! How can we fix this!?!?” Straight-Hat3855 wrote in a now-deleted post.
"The Osmosis chain has been halted for emergency maintenance," a Discord moderator for the project announced at 10:57 p.m. EST. "This will take some time to resolve, and we don't expect the chain...
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