Woofun AI reports that Ostium, a perpetual derivatives protocol on Arbitrum, experienced a security breach resulting in the loss of approximately $12 million to $18 million in USDC. This depletion represents roughly 35% of the platform's total vault balance, which exceeds $34 million.

The attack vector involved the infiltration of oracle signer private keys. Threat actors utilized registered PriceUpkeep relayers to submit manipulated price data for future timestamps, subsequently executing repeated position openings and closures to exhaust vault funds. Ostium's official team has not yet issued a statement regarding the incident.