Ostium suspends trading after oracle vulnerability causes a loss of tens of millions of dollars

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Deep Tide TechFlow news: On July 16, according to Cointelegraph, the decentralized exchange protocol Ostium paused trading on Wednesday after blockchain security firms Blockaid and CertiK reported that its OLP liquidity vault was exploited via an oracle-related vulnerability. Blockaid estimated losses of about $18 million, while CertiK said the figure was about $22 million; both companies attributed the incident to a suspected compromise of Ostium’s oracle system.

Ostium announced on X that it is pausing all trading and advised users to temporarily revoke approvals for its contracts to protect funds. The project team said it is investigating and has not yet confirmed the cause of the incident or the loss amounts reported by the security firms. Ostium is an on-chain perpetual futures trading platform built on Arbitrum, offering leveraged exposure across 75 trading pairs including stocks, ETFs, commodities, and cryptocurrencies.

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