Developers of the Osmosis blockchain have halted the network for "emergency maintenance" after users on Reddit found they could get up to 50% of extra money if they deposit and withdraw crypto out of liquidity pools.
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The Osmosis team says the size of losses is likely to be in the range of $5 million and is already working on reimburse. They also added that the bug has been identified and a patch written. They added:
"Full bug report and action plan for more thorough and proper end to end testing of chain upgrades to follow in coming days."
The team also noted that due to the maintenance, the Osmosis DEX and wallet are inoperable, until repairs are completed. As of press time, it remains unclear what is the nature behind the bug.
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