{"id":62666,"date":"2022-06-09T10:02:25","date_gmt":"2022-06-09T07:02:25","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=62666"},"modified":"2025-09-05T19:22:54","modified_gmt":"2025-09-05T16:22:54","slug":"osmosis-team-sets-timeline-for-platform-restoration","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/osmosis-team-sets-timeline-for-platform-restoration\/","title":{"rendered":"Osmosis Team Sets Timeline for Platform Restoration"},"content":{"rendered":"<p>Restoring the Osmosis blockchain platform, which has not been processing transactions for a day due to a vulnerability, will require \u201cat least two days.\u201d Users will be reimbursed for lost funds, the project team said.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">Thank you for being patient as the core teams have been heads down dealing with the situation.<\/p>\n<p>The following is the latest information related to the bug and subsequent chain halt.<\/p>\n<p>\u2014 Osmosis \ud83e\uddea (@osmosiszone) <a href=\\\"https:\/\/twitter.com\/osmosiszone\/status\/1534684186803568640?ref_src=twsrc%5Etfw\\\">June 8, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>On June 8, the blockchain <a href=\"https:\/\/forklog.com\/en\/news\/osmosis-blockchain-halts-operations-after-critical-vulnerability\">halted block production<\/a> due to a vulnerability that could have led to the depletion of Osmosis DEX liquidity pools. The project team estimated the damage at around $5 million.<\/p>\n<p>Developers confirmed that the exploit became possible due to a bug present in Osmosis v9, which was activated on May 7. <\/p>\n<p>The bug lay in the incorrect calculation of liquidity provider shares when adding and removing assets from pools. It slipped through during internal testing of the update.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u201cThe core Osmosis development team takes full responsibility for this oversight. This means that the strategic reserve, not the community pool, will bear responsibility for any lost funds,\u201d the statement said.<\/p>\n<\/blockquote>\n<p>The developers plan to partially cover losses by reimbursing the funds withdrawn via the vulnerability. The team identified four addresses that accounted for more than 95% of the exploit&#8217;s activity.<\/p>\n<p>Owners of two of them are ready to return the funds in full; the remaining ones have interacted with centralized exchanges. The developers have provided the &#8216;relevant information&#8217; to the latter.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">\u2014 The remaining 2 individuals have txs to\/from CEXs<\/p>\n<p>\u2014 Exchanges have been been contacted with the relevant information with the goal of identifying the exploiters and potentially recover the funds.<\/p>\n<p>\u2014 Osmosis \ud83e\uddea (@osmosiszone) <a href=\\\"https:\/\/twitter.com\/osmosiszone\/status\/1534585651743662082?ref_src=twsrc%5Etfw\\\">June 8, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>The Cosmos staking service for delegates \u2014 FireStake \u2014 announced its readiness to return the assets. Two of its users \u201cturned $226 000 into $2 mln\u201d during \u201cexploit testing\u201d.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">to return the funds as soon as possible. We\u2019re also working with the Osmosis team to encourage anyone else who took advantage of this situation to please come forward and return funds. <\/p>\n<p>You\u2019re welcome to come to us, and we can help act as a liaison. We need to make this right.<\/p>\n<p>\u2014 FireStake | Validator (@stake_fire) <a href=\\\"https:\/\/twitter.com\/stake_fire\/status\/1534598317950193666?ref_src=twsrc%5Etfw\\\">June 8, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u201cWe are currently working with the Osmosis team to return the funds as soon as possible. We also urge everyone else who took advantage of the situation to come forward and return the assets,\u201d FireStake said in a statement.<\/p>\n<\/blockquote>\n<p>The developers say they are testing Osmosis v10. It is expected that once released the blockchain will resume operations.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u201cWhile projected timelines may change, it is expected to take at least another two days,\u201d they wrote.<\/p>\n<\/blockquote>\n<p>In May 2022, the Wormhole <a href=\"https:\/\/forklog.com\/en\/news\/wormhole-team-pays-white-hat-hacker-10-million-for-discovered-vulnerability\">paid $10m to a white-hat hacker<\/a>, who discovered a critical vulnerability in the cross-chain protocol.<\/p>\n<p>Read ForkLog&#8217;s Bitcoin news on our <a href=\\\"\/\/telegram.me\/forklog\\\" target=\\\"\u201c_blank\u201d\\\" rel=\\\"\u201cnofollow\u201d noopener\\\">Telegram<\/a> \u2014 crypto news, rates and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Restoring the Osmosis blockchain platform, which has not been processing transactions for a day due to the exploit, will require at least two days. Users will be reimbursed for lost funds, the project team said.<\/p>\n","protected":false},"author":1,"featured_media":62667,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1301,1093,2279],"class_list":["post-62666","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-blockchain-vulnerabilities","tag-defi","tag-osmosis"],"aioseo_notices":[],"amp_enabled":true,"views":"14","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/62666","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=62666"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/62666\/revisions"}],"predecessor-version":[{"id":62668,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/62666\/revisions\/62668"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/62667"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=62666"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=62666"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=62666"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}