Ostium, an RWA trading platform, has provided an update following a recent attack on its LP vault, which resulted in a loss of 23,752,746 USDC. The attack, which occurred on July 15, involved the compromise of off-chain price oracle infrastructure, allowing the attacker to submit forged price reports and manipulate positions for illicit gains. Despite the breach, trader funds remain secure in isolated contracts, and all positions are open as usual.
The Ostium team is collaborating with cybersecurity firms Mandiant, zeroShadow, Collisionless, and SEAL 911, alongside law enforcement and various exchanges, bridges, and stablecoin issuers, to investigate the incident. Trading was suspended within an hour of the attack, and all contracts were frozen to prevent further damage. Ostium is currently focused on strengthening its infrastructure and will notify users at least 24 hours before resuming trading. Upon reopening, traders' positions will be marked at the reopening price, unaffected by interim market changes.
Ostium Updates on Attack, Plans Secure Restart with 24-Hour Notice
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.
