Ostium unveils recovery plan for July exploit, says more than 90% of affected wallets qualify for full reimbursement

News Editor

2026-09-30 15:13:10

Ostium has released a post-incident update and recovery plan for holders of its Ostium Liquidity Pool, or OLP, after the July 15 attack that drained about $23.75 million from the pool. The protocol said currently available evidence suggests the incident may have involved a state-sponsored attacker. So far, 649,967 USDC has been recovered, while the remaining vault assets retained by affected users are worth about 30% of OLP holdings before the exploit. Ostium said it has launched a recovery portal and taken a snapshot of OLP balances at the time of the incident. It identified 3,666 affected wallets, of which 3,321, or 90.59%, are eligible for full reimbursement of verified losses under the first phase. Users with losses of up to 1,000 USDC can claim the same amount directly. Users with losses above 1,000 USDC can either take 1,000 USDC and give up the remaining recovery amount, or join a second-phase pro rata recovery plan. Ostium said second-phase funding will mainly come from any additional funds recovered from the attacker and a share of protocol revenue, with details on that revenue-sharing arrangement due by Oct. 30.

Ostium has published a follow-up update on the July 15 attack and outlined a recovery plan for holders of the Ostium Liquidity Pool, or OLP. The protocol said the incident led to the extraction of about $23.75 million from the OLP. Based on currently available evidence, Ostium said the attack may have been carried out by a state-sponsored actor.

According to the protocol, 649,967 USDC has been recovered so far. It also said the remaining vault assets still held by affected users are currently worth about 30% of OLP holdings before the incident.

Recovery portal goes live as 3,666 affected wallets are identified

Ostium said it launched its recovery portal today and took a snapshot of OLP balances at the time of the attack. The process identified 3,666 affected wallets.

Among them, 3,321 wallets, or 90.59%, can receive full reimbursement for verified losses under the first phase of the recovery plan.

Phase one offers separate paths based on loss size

Users whose losses do not exceed 1,000 USDC can directly claim the same amount in USDC, according to Ostium.

For users with losses above 1,000 USDC, the protocol laid out two options:

Claim 1,000 USDC and waive any remaining recovery entitlement.
Join the second-phase pro rata recovery plan.

Details on protocol revenue sharing are due by Oct. 30

Ostium said second-phase funding will mainly come from any additional assets recovered from the attacker, along with a share of protocol revenue. The protocol said the exact revenue-sharing ratio and related arrangements will be announced by Oct. 30.

Earlier reports said Ostium's off-chain infrastructure was hacked on July 15, leading to the removal of about 23.75 million USDC from the OLP vault.

This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan.

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