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Osmosis Proposes Recovery Plan for allBTC Peg through Community Pool and Seizure of Attacker's Assets

On September 10, Cosmos ecosystem DEX Osmosis announced that a proposal for a solution to restore Alloyed BTC reserve support has officially launched for discussion on the governance forum. The proposal suggests seizing 22.65 BTC that were frozen in the attacker's address due to an emergency on-chain upgrade, and utilizing the accumulated BTC reserves in the Osmosis community pool to cover the remaining shortfall of approximately 17.19 BTC, ensuring full redemption of the underlying assets for Alloyed BTC. Previously, the Nomic cross-chain bridge minted 40.65 nBTC without Bitcoin backing on Osmosis, a situation that was revealed after being hidden for 74 days when Nomic suspended operations on September 7, resulting in a total shortfall of 39.84 BTC. Of this, about 22.65 BTC was frozen in the attacker's address due to the emergency upgrade v31.1.0, while approximately 18 BTC was laundered through Tornado Cash, making it impossible to recover those funds directly.

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