Svmuu News: Headline: $23.75 Million in USDC Lost; Ostium Price Data Compromised.
According to Ostium’s monitoring, Ostium has released an update on the attack. Its liquidity provider treasury was compromised on July 15, resulting in a loss of 23,752,746 USDC. Preliminary investigations indicate that the attacker compromised the off-chain infrastructure providing price data to the protocol and submitted spoofed, fraudulent price reports. By rapidly opening and closing multiple large positions, the attacker extracted artificially generated profits from the treasury. Ostium stated that traders’ collateral is held in independently isolated smart contracts and was not affected by this incident; all trading positions remain open. The team suspended trading and froze all trading contracts within 60 minutes of the first attack transaction. Currently, Ostium is collaborating with Mandiant, zeroShadow, Collisionless, SEAL 911, and law enforcement agencies, and is coordinating with trading platforms, bridge contracts, and stablecoin issuers to advance the investigation. The engineering team is repairing and strengthening the relevant infrastructure to support the secure resumption of trading. Ostium stated that it will provide at least 24 hours’ notice before unfreezing trading contracts. Once trading resumes, existing positions will be marked to market at the price at the time of reopening and will not be affected by price fluctuations that occurred during the suspension period.