The Arbitrum-based decentralized exchange Ostium has halted all trading following a major security breach. An attacker exploited the platform's OLP vault, stealing an estimated $18 million USDC.
Security firm Blockaid reported the attacker used a registered PriceUpKeep forwarder and manipulated oracle data to fabricate trading profits. This method triggered the massive payout from the vault.
Ostium confirmed the incident and has paused its operations while the team conducts an investigation. The protocol provides perpetual trading for tokenized real-world assets.
This exploit occurs shortly after Ostium secured $20 million in funding to expand its platform for trading real-world assets via perpetual futures.