Ostium Updates on Attack Incident, $23,752,746 USDC in Liquidity Funds Lost

Ostium released an update on the attack incident on July 19, revealing that its liquidity provider fund was attacked on July 15, resulting in a loss of 23,752,746 USDC. Preliminary investigations indicate that the attackers compromised the off-chain infrastructure providing price data, submitting disguised fraudulent price reports to extract profits from the fund through rapid opening and closing of multiple large positions. Ostium stated that the collateral of traders is stored in independently isolated smart contracts and was not affected by this incident, with all trading positions remaining open. The team paused trading and froze all trading contracts within 60 minutes of the first attack transaction. Currently, Ostium is collaborating with multiple institutions to advance the investigation and is focused on repairing the relevant infrastructure to support a secure resumption of trading. Ostium will notify at least 24 hours in advance before unfreezing the trading contracts, and existing positions will be marked at the price at the time of reopening, unaffected by price fluctuations during the pause. Addressing the affected liquidity providers and ensuring a secure resumption of trading remains a top priority.

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