Ostium said it has launched a recovery portal for users affected by the July 15 attack on its OLP liquidity pool. The platform said the incident involved multiple attacks that compromised its offchain pricing and signing infrastructure, leading to roughly $23.75 million being withdrawn from the pool. Based on current evidence, Ostium said the attacker may have been a state-backed actor.
Trading resumed on July 23 after the company migrated to hardened infrastructure, and Ostium said it has recovered 649,967 USDC so far. The first post-incident OLP settlement was completed on Sept. 12, when losses were reflected in the share price for the first time. Affected users still hold a pro rata claim on the pool’s remaining assets, now worth about 30% of pre-incident OLP holdings.
A snapshot identified 3,666 affected wallets. Of those, 3,321 wallets, or 90.59%, are eligible to receive 100% of verified losses in phase one. Users with losses of up to 1,000 USDC can claim that amount directly. Those with losses above 1,000 USDC can either take 1,000 USDC and forfeit the remainder, or join a second-phase pro rata recovery plan. Ostium said details on second-phase recovery, funded by future asset recoveries, protocol revenue share, and other possible entitlements, will be released before the Oct. 30 election deadline.
Ostium said on Sept. 30 that it has opened a recovery portal for users affected by losses in its OLP liquidity pool.
The platform said multiple attacks on July 15 compromised its offchain pricing and signing infrastructure, and about $23.75 million was withdrawn from the Ostium liquidity pool. Based on the evidence currently available, Ostium said the attacker may have been a state-backed actor.
Trading resumed on July 23 after the company migrated to strengthened infrastructure. Ostium also said it has recovered 649,967 USDC so far.
Post-incident settlement and remaining pool assets
OLP completed its first post-incident settlement on Sept. 12, marking the first time the related losses were reflected in the share price. Affected users still hold a pro rata interest in the pool’s remaining assets, which are currently worth about 30% of their pre-incident OLP holdings.
Regular settlements resumed on Sept. 15. New deposits remain paused, while users can request withdrawals at any time with T+3 settlement. Ostium said making a withdrawal will not affect eligibility for the recovery plan.
Phase-one compensation terms
A snapshot identified 3,666 affected wallets. Among them, 3,321 wallets, representing 90.59%, are eligible to receive 100% of verified losses in phase one.
Users with losses of no more than 1,000 USDC can directly claim an equivalent amount in USDC. Users with losses above 1,000 USDC can either claim 1,000 USDC and give up the remaining balance, or opt into a pro rata recovery plan under phase two.
Sources of second-phase recovery funds
Ostium said second-phase funds will come from future recovered assets, a share of protocol revenue, and other possible entitlements. More details will be disclosed before the Oct. 30 election deadline.
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