A hacker used Ostium's own price-reporting infrastructure against the protocol, submitting falsified future-dated oracle data to manufacture fake trading profits and trigger an $18 million payout.
- An attacker exploited a registered component of Ostium's price-feed automation system, submitting oracle reports with manipulated future timestamps to make losing trades appear profitable — triggering an $18 million USDC payout from the protocol's vault.
- The attack follows a string of similar keeper and oracle exploits in DeFi, including a $6 million drain from Summer.fi last week, highlighting persistent vulnerabilities in the automated infrastructure protocols rely on to bring real-world price data onchain.
- Ostium, a perpetuals exchange on Arbitrum focused on real-world assets like gold, forex, and equity indices, had raised $27.8 million in funding and processed over $50 billion in trading volume before the incident.
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Gate Leads Spot Market Share Gains as CEX Volumes Rise for First Time in Five Months
CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.
Why it matters :
CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.
Crypto brokerage firm Alpaca raises $135 million for tokenized stock infrastructure
Inside the high-stakes race to build an open financial system specifically for AI bots
Tether invests $20 million in Argentine neobank Ualá as it expands Latin America push
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