BlockBeats News, July 16th, Perp DEX Ostium announced that trading on the platform remains suspended following a security incident. User positions remain open but cannot be modified at the moment. The trading collateral is still held in the frozen trading smart contract and has not been moved.

Ostium stated that the team is actively coordinating with relevant authorities, SEAL 911, and multiple security researchers. Updates will be provided regarding the resumption of smart contract activities and the timeline for fund recovery.

According to PeckShield's monitoring, Ostium's public OLP treasury was drained of approximately 24 million USDC, which was then converted by the attacker to around 12,100 ETH, with about 10,500 ETH subsequently moved to Tornado Cash.