Ostium, an Arbitrum-based perpetuals exchange for trading real-world assets, halted all trading on Wednesday after an attacker manipulated its oracle system to drain between $11.86 million and $18 million in USDC from its liquidity vault. Onchain security firm Blockaid identified that the attacker used a registered PriceUpKeep forwarder and future-dated authorized oracle reports to create artificial trading profits, triggering an approximately $18 million payout from the vault. Ostium, which had raised roughly $27.8 million from investors including General Catalyst and Jump Crypto, confirmed the incident on X and stated that the team was investigating. According to DefiLlama data, the protocol held approximately $63.3 million in total value locked shortly before the attack, representing a significant portion of its vault even under the lower damage estimate.
Source: Read the original article
