Ostium Resumes Trading on July 23 at 22:00 UTC After $23.75M Hack

According to Foresight News, Ostium, a real-world asset trading platform on Arbitrum, will resume trading on July 23 at 22:00 UTC following a July 15 attack that resulted in over $23.75 million in losses. The platform will reopen in phases, first enabling closing positions, margin adjustments, order modifications, take-profit and stop-loss orders, and liquidations, with new position creation available only after pending order liquidations are cleared. Existing open positions and pending orders will be preserved and marked at real-time prices at resumption.

Ostium disclosed that the July 15 attack was caused by hackers compromising off-chain infrastructure related to the protocol's price system. The platform is coordinating recovery efforts with Mandiant, zeroShadow, Collisionless, SEAL 911, and law enforcement, while liaising with exchanges, bridges, and stablecoin issuers.