Cryptocurrency Q&A
Why is osmosis chain halted?
Why is osmosis chain halted?
alexander_smith_musician
Fri Jun 28 2024
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5 answers
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Can you elaborate on the reasons behind the halting of the Osmosis chain? It seems to have been a sudden decision, and many within the crypto community are wondering about the specifics. Are there any technical issues that have led to this halt? Or is it a strategic decision made by the developers? Additionally, what are the plans to resume the chain's operations? This halt has certainly raised concerns among investors and users, so clarity on the situation would be greatly appreciated.
5 answers
Elena
Sun Jun 30 2024
Preliminary investigations suggest that the exploit could have resulted in a potential loss of around $5 million from liquidity pools on the Osmosis network.
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MysticRainbow
Sun Jun 30 2024
Liquidity pools are crucial components of decentralized exchanges, providing the necessary funds for trading pairs. Any drain on these pools could significantly impact trading activities.
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CryptoDynasty
Sun Jun 30 2024
BTCC, a UK-based cryptocurrency exchange, offers a range of services to its customers, including spot trading, futures trading, and wallet management. These services allow users to buy, sell, and store various cryptocurrencies securely.
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Thunderbolt
Sun Jun 30 2024
The Osmosis network, a blockchain platform, was abruptly suspended at 02:57 UTC by its core developers and validators.
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ZenHarmonious
Sun Jun 30 2024
The emergency halt was necessitated by the discovery of a security exploit that threatened the integrity of the network.
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