On June 12, the automated market-making (AMM) based protocol, Osmosis (OSMO), tweeted about the restart of the Osmosis chain after a temporary pause. This news was quickly picked up by various Twitter handlers, as the company halted their chain for several days due to required upgrades to fix a bug.
Osmosis (OSMO) is a third-generation blockchain technology that empowers all the members of a community to truly participate in, manage, and benefit from an ecosystem through free dapps and fair governance. The chain was halted because of a bug which enabled liquidity providers to earn an extra 50% on disrupting liquidity.
Chain has been restarted, is stable, and all previous users are now able to access the chain on Twitter, the Osmosis team announced:
“The bug itself was simple, and involved incorrect calculation of LP shares when adding and removing liquidity from pools. It should have been caught. It was painfully overlooked in internal testing that was focused on more advanced functionality related to the upgrade.”
While the chain was offline and the community debated what had happened, a few Osmosis team members insisted that they had detected the attack in progress and were working to stop it. They were dedicated to “ensuring this never happens again.”
However, the bug was first unveiled on June 6 by a Reddit user. The Osmosis team briefly mentioned that, if necessary, the developer fund would cover all damages.
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