Ostium Loses $23.75 Million Due to Price Manipulation
Ostium suffered a significant loss of $23.75 million due to a price manipulation attack. An attacker exploited a trusted price forwarder to provide false Bitcoin pricing.
The incident involved the attacker feeding a fake $60,000 Bitcoin quote to the vault, which led to the draining of funds. Following the manipulation, the attacker collected payouts on trades that were not executed in reality. This incident highlights vulnerabilities in price feed mechanisms within crypto platforms.