Arbitrum Perpetual Exchange Ostium Loses Up to $18M in Oracle Attack

Arbitrum-based perpetual contract exchange Ostium has suffered an apparent attack, resulting in losses of approximately $12 million to $18 million in USDC, according to Foresight News, citing a report by unfolded. The stolen funds represent about 35% of the protocol's treasury, which held over $34 million. The attacker compromised the private keys of an oracle signer and used a registered PriceUpkeep relayer to submit favorable prices for future dates. By repeatedly opening and closing positions, the attacker drained the treasury. Ostium has not yet issued an official response.