The record
Written from the 1 report below. Nothing here is unsourced.
- Hackers stole about $23.75 million from the liquidity provider vault of Ostium, a decentralized trading platform built on Arbitrum, by manipulating the off-chain infrastructure that feeds prices into the protocol.
- The attacker submitted fake price reports and rapidly opened and closed large positions to book artificial profits, then converted the stolen USDC into Ethereum, much of it sent to the TornadoCash mixer.
- Traders' collateral and existing positions were not affected, but all trading was paused within an hour of the exploit and remains frozen five days later.
- Ostium says it has notified authorities, is tracking the stolen funds, and is working to secure the affected infrastructure and decide next steps for liquidity providers.
What to watch next
- Ostium's promised post-mortem analysis with technical details in the coming days
- The announcement of when trading will resume, with at least 24 hours' notice and positions marked to the reopening price
- Any further movement of the stolen funds or action by authorities
Coverage1
1 report
International1
All filed from United States
Named United States · Arbitrum · Ostium · PeckShieldAlert
The 1 report is listed beside the record.
Ask this story
Answers cite the reports above, or say they can't.