Ostium, a perpetual futures trading platform on Arbitrum, was reportedly exploited, with estimated losses of $12 million to $18 million in USDC, according to unfolded. The reported loss would account for roughly 35% of the protocol’s treasury, which was said to hold more than $34 million. The attacker allegedly compromised a private key belonging to an oracle signer and then used a registered PriceUpkeep forwarder to submit favorable prices dated in the future. After that, the attacker is said to have repeatedly opened and closed positions to drain funds from the treasury. Ostium had not issued a public response at the time referenced in the report.
Ostium, a perpetual futures trading platform on Arbitrum, was reportedly exploited, with losses estimated at $12 million to $18 million in USDC, according to unfolded.
The reported loss equals about 35% of the protocol’s treasury, which was said to exceed $34 million. unfolded said the attacker compromised the private key of an oracle signer, then used a registered PriceUpkeep forwarder to submit favorable prices with future dates. The attacker allegedly cycled positions on and off to drain the treasury.
Ostium had not publicly responded at the time of the report.
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