Svmuu News: Ostium, a decentralized perpetual futures exchange, suffered an oracle attack on Wednesday, resulting in a loss of approximately 18 million USDC. The attacker used a compromised oracle signing key to submit fraudulent price reports for future dates, generating fake trading profits and receiving payments from Ostium’s liquidity pool.
Ostium stated that it had identified an issue with the OLP pool, suspended all trading, and that the team is investigating the matter. Deployed on Arbitrum, Ostium offers perpetual futures trading tied to real-world assets such as stocks, commodities, foreign exchange markets, and indices.
At the time of the attack, the Ostium protocol had a total value locked (TVL) of approximately $63 million; the attack depleted nearly one-third of its liquidity. In the first five months of 2026, more than $840 million was stolen from DeFi protocols, including $292 million from KelpDAO and $285 million from Drift Protocol.