TechFlow reports, July 16, according to CoinDesk, decentralized perpetual contract exchange Ostium suffered a loss of approximately 18 million USDC on the Arbitrum network, where attackers exploited its PriceUpKeep oracle component to submit price reports with forged future timestamps, making losing trades appear profitable and triggering fund payouts.
Blockchain security firm Blockaid detected this attack. Ostium previously completed $27.8 million financing, with cumulative trading volume exceeding $50 billion. This incident is the latest case in the recent wave of DeFi oracle attacks; last week Summer.fi also suffered a similar attack, losing $6 million.
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