Ostium, the perpetuals protocol built on Arbitrum, has announced full repayment for 3,321 wallets affected by July’s exploit, while 345 remaining wallets received a term sheet outlining their recovery options. The attack exploited compromised off-chain infrastructure to submit fraudulent BTC-USD price reports, allowing the attacker to drain 23,752,746 USDC from the OLP vault. Trading resumed eight days later on July 23 following a migration to a more secure environment. The Ostium Labs team is covering losses from its own balance sheet, though the foundation faces additional pressure from separate litigation over a 15 million USDC loan default.
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