Perp DEX Ostium Loses $18 Million in Oracle Exploit on Wednesday

According to blockchain security firm Blockaid, Ostium lost roughly $18 million USDC on Wednesday after attackers compromised an oracle signer key and manipulated price feeds to generate fake trading profits. The exploit drained close to one-third of the protocol's roughly $63 million in total value locked.

The attacker used a registered PriceUpKeep forwarder and future-dated authorized oracle reports to trigger artificial trading payouts from Ostium's liquidity vault. Ostium, a perpetual futures DEX built on Arbitrum, paused all trading following the incident and said its team is investigating.