According to Asymmetric Research, the Inter Blockchain Protocol always had the bug. However, it only recently became exploitable thanks to developments in the protocol’s codebase. Once Cosmos was notified of the issue, the vulnerability was quickly patched before anyone could exploit it. Asymmetric Research stated in a blog post, Jessy Irwin, the CEO of Amulet, a firm engaged by the Interchain Foundation to run its bug bounty program and coordinate security on the Cosmos ecosystem, confirmed that the issue was reported.