Ostium suffers an attack as the attacker exploits fake price arbitrage to steal 23.75 million USDC
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According to the official Ostium report, attackers infiltrated the off-chain price reporting system and submitted forged prices of $5,000 and $60,000 to the BTC-USD market. Starting with 100 USDC, they drained 23.75 million USDC from the OLP vault through 8 transactions in 5 minutes. This incident was caused by a lack of multi-party approval mechanisms in off-chain infrastructure. The stolen funds have been converted to ETH and laundered through Tornado Cash.
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