Ostium Exploit Reveals DeFi Oracle Weakness | Bitcoin and Crypto News

Ostium, a top DeFi exchange on Arbitrum, just got hacked for $18M in USDC — and it’s a textbook case of how bad actors are exploiting price-reporting systems. The attacker fed fake, future-dated price data into Ostium’s oracle, making the system think it was raking in profits — triggering automatic payouts from its vault. This isn’t an isolated incident either — just last week, Summer.fi lost $6M the same way. Both platforms rely on automated systems to bring real-world prices on-chain, but those systems still have gaping security holes. Ostium, which trades real assets like gold with up to 200x leverage, had already raised $27M and processed $50B in volume — making this hit even more shocking. Security experts say the hack targeted a specific component called the PriceUpKeep forwarder. As these attacks keep popping up, it’s clear that securing DeFi’s automated infrastructure remains a massive, urgent challenge. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/ed99e53e712d5ac3