In a significant development, developers of Cosmos have successfully patched a critical security flaw in the Cosmos Inter Blockchain Communication (IBC) protocol. This vulnerability had previously put a substantial amount of $126 million at risk.

The IBC protocol is a crucial component of the Cosmos ecosystem, enabling the transfer of assets between different blockchains. The security flaw could have potentially allowed malicious actors to exploit the system, leading to significant financial losses.

The swift action by the Cosmos developers in identifying and rectifying the issue underscores the importance of constant vigilance and robust security measures in the blockchain industry. This incident serves as a reminder of the potential risks associated with digital assets and the need for continuous improvements in security protocols.