Try Quests to earn cryptoAssets Removed from Osmosis
In This Analysis, You Will Read About Asset Removed From Osmosis During a critical bug was found on June 8th. On June 8th, a critical bug was found on Osmosis that led to the theft of several million dollars from liquidity pools. In an effort to help provide the Osmosis team with important data, we’ve curated these flash bounties to surface metrics that the team has requested. The upgrade that contained the exploited bug occurred at block height 4707300, and the chain was halted at block 4713064.
What was the total dollar amount of assets that was improperly removed from pools due to the bug, and what is the list of addresses that had joined a pool since the upgrade? What is the dollar value deposited of those addresses joining pools? What is the cumulative value of funds that joined and exited?
Osmosis, a decentralized exchange built on Cosmos, was hacked for roughly $5 million, forcing developers to halt the network. By Sujith Somraaj. Jun 8, 2022. 3 min read. Crypto exploits are a common feature of the fast-growing industry.
First, I have found two actions in osmosis.core.fact_liquidity_provider_actions table. I looked for Pool joined and Pool exited. Then joined to osmosis.core.dim_labels to find Tokens.
As a result, I looked for suspicious activities. First, I examined the total number of add and remove equal to each other. How long do they keep their positions? And The total Add and Remove Liquidity amounts in USD.
The total amount in USD that was removed from Osmosis is 14.5M dollars.
The below chart shows the total added and removed volume in USD per wallet. Two addresses had the most volume on Osmosis. The highest amount of Added liquidity is 6M and 2M dollars made by two addresses. The highest amount of removed volume is 9M and 4M dollars.
According to the below chart, We can see which assets those wallets used to remove. The Top Users removed 4.6M dollars of Osmosis, 444K of Bitcoin, 3.4M dollars of Cosmos, and 508K of Ethereum.
Let's Look at Cumulative charts. In the below chart, you can see the cumulative Amounts and number of added liquidities. Most activities occurred from 00:00 until 02:00 AM. Nearly 9M dollars added at 1:00 AM on 8 June.
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The below chart shows the cumulative number of removed and amounts in USD. Like the previous chart, about 13M dollars removed at 1 AM on 8 June.
It seems the attacker used Cosmos and Osmosis Tokens to add and remove liquidity. Also, it seems first they experienced the bug and after some hours they back to add a huge liqudities.