Ostium says LP vault attack caused 23,752,746 USDC loss on July 15

Ostium said a July 15 attack on its LP vault caused a loss of 23,752,746 USDC after offchain price oracle infrastructure was compromised, allowing forged price reports to be submitted and positions to be manipulated for illicit gains. Security researchers had initially estimated the loss between about $11.86 million and $18 million, and PeckShield later tracked it closer to $24 million after secondary transfers, broadly aligning with Ostium’s subsequent figure. Blockaid said the attacker used a registered PriceUpKeep forwarder and future-dated authorized oracle reports to manufacture trade profits. Ostium said trader funds remain secure in isolated contracts and all positions are still open. Trading was suspended within an hour of the attack and all contracts were frozen to contain the damage. Ostium said it is working with Mandiant, zeroShadow, Collisionless and SEAL 911, as well as law enforcement, exchanges, bridges and stablecoin issuers, and plans to give users at least 24 hours' notice before trading resumes. When the platform reopens, positions will be marked at the reopening price rather than reflecting interim market moves.