Correct this statement if it is not accurate:

Here is schematic of the general cold fusion setup by Martin Fleischmann and Stanley Pons.

It is a typical electrolysis setup, where a direct current is applied between a palladium cathode and a platinum anode, whose connection is bridged by heavy water (where the hydrogen has a neutron) and a Lithium deuterium oxide as the electrolyte inside a dewar or vacuum flask, and surrounded inside a bath of water.

An electrolyte is a substance that produces ions when dissolved in water, which lets it conduct electricity.

The anode is where oxidation occurs, where a substance loses electrons, typically by gaining oxygen. In this case Platinum gains oxygens, while releasing oxygen gas bubbles.

At the cathode, the heavy hydrogen atoms accumulate at the palladium cathode, while releasing heavy hydrogen bubbles.

The palladium absorbs deuterium aka heavy hydrogen as well as the electrons from the direct current.