Trading remains suspended after a security incident that reportedly drained about 24 million USDC from Ostium’s public OLP vault, while user positions stay open but frozen.
Ostium said trading remains suspended after a security incident affecting its public OLP vault. The project said user positions remain open but cannot be modified, and margin remains in the frozen trading smart contract and has not moved. The team said it has spent the past 14 hours coordinating with authorities, SEAL 911, and security researchers after the vault was reportedly drained of about 24 million USDC. Trading halts in such cases are typically used to contain risk while a protocol assesses the scope of a smart-contract exploit or other security failure.