The backing for bOSMO has been depleted following a community redemption event in which a technical bug caused withdrawals to be overpaid by approximately 50%. Johnny Wyles confirmed the issue resulted in excess payouts that drained the reserve assets supporting the token.
Compensation is planned for 1,037 affected accounts identified in a pre-incident snapshot. Users who purchased bOSMO after the snapshot was taken are excluded from the reimbursement plan as the team works to address the shortfall.
