Ostium Unveils Compensation Plan for July Exploit, Over 90% of Affected Wallets to Receive Full Reimbursement

Odaily — Ostium has released an update on the July 15 exploit and a recovery plan for OLP holders. Ostium stated that the attack resulted in approximately $23.75 million being withdrawn from the Ostium Liquidity Pool (OLP), and available evidence suggests the attack may have been carried out by a nation-state actor. As of now, 649,967 USDC has been recovered, and the remaining vault assets currently held by affected users are worth approximately 30% of their pre-incident OLP positions.

Ostium launched its recovery portal today and took a snapshot of OLP balances at the time of the incident, identifying a total of 3,666 affected wallets. Of these, 3,321 wallets — or 90.59% — are eligible for full compensation of verified losses through the Phase 1 plan. Users with losses of 1,000 USDC or less can directly claim an equivalent amount in USDC; users with losses exceeding 1,000 USDC may choose to claim 1,000 USDC and forfeit the remaining recovery allocation, or participate in the Phase 2 proportional recovery plan.

Phase 2 funding will primarily come from subsequent recovery of attacker funds and a share of Ostium protocol revenue, with the specific revenue share ratio and related arrangements to be announced by October 30.

As previously reported, Ostium's off-chain infrastructure was hacked on July 15, resulting in approximately 23.75 million USDC being withdrawn from the OLP vault.