Ostium Reopens After $23.7M Exploit
Ostium Reopens After $23.7M Exploit
🔓 Ostium back online
Ostium has fully reopened trading following a security incident that drained $23.7M USDC from its liquidity provider vault on July 15.
What happened:
- Attacker compromised off-chain price feed infrastructure
- Manipulated price reports to extract artificial profits
- Trader collateral remained safe in isolated contracts
Recovery timeline:
- Trading paused July 15
- Reopened July 23 at 10:00 AM ET in stages
- Protective actions enabled first (closing positions, managing collateral)
- Full trading now live
Key details:
- Open positions marked to live market price at reopening
- No liquidations based on prices during pause
- New LP deposits paused to protect existing providers
- Recovery plan in development with capital from Ostium Labs and partners
The protocol worked with Mandiant, zeroShadow, and law enforcement on the investigation.
An update on where things stand: What happened On July 15, Ostium’s LP (liquidity provider) vault was exploited for 23,752,746 USDC. Based on our ongoing investigation, the attacker compromised off-chain infrastructure related to the system that feeds prices into the protocol.
Trading is live on Ostium as of 10:00 AM ET, reopening in stages. At reopen, protective and reduce-only actions come first: closing positions, topping up collateral, updating or cancelling orders, and automated take-profits, stop-losses, and liquidations. Opening new positions
Trading on Ostium reopens Thursday, July 23 at 10:00am ET. Below covers what happens to open positions, how trading comes back online, and a recovery plan update for liquidity providers. What happens to positions at reopen Open positions and pending orders will carry over as
A Security Update: Trading remains paused following the security incident. User positions remain open and unmodifiable, and trader margin remains unmoved in frozen trading smart contracts. The team will continue to provide updates as they become available regarding a timeline
Trading is fully live. Opening new positions is now enabled.
Update: We are working toward a relaunch this week. We will provide a notification 24 hours before trading resumes. Final checks are being done by our auditors, third-party cybersecurity experts, and engineering team. What this means for positions when trading resumes: • They
Trading on Ostium reopens Thursday, July 23 at 10:00am ET. Below covers what happens to open positions, how trading comes back online, and a recovery plan update for liquidity providers. What happens to positions at reopen Open positions and pending orders will carry over as