We've been quieter than usual over the past few days, and have been spending that time getting trading back up, continuing the ongoing investigation, and building a detailed recovery plan for LPs. I know the lack of updates has been difficult, especially for LPs waiting for clarity. We do not want to publish a partial plan, and have been focused on finalizing the details. The technical review and migration were led by our engineering and infrastructure teams, who have worked relentlessly since July 15. This effort enabled trading to resume on a completely new stack last Thursday, which I’m incredibly grateful for. This post mortem is just one step. The next big update people are looking for is what recovery and the path forward will look like, and that is where my focus remains. We are thankful for the patience and support of all of our partners and users. More to come.

This morning, between 14:18–14:23 UTC, Ostium experienced a security issue leading to a loss of funds from the public OLP vault. Our team identified the issue within minutes and immediately began taking steps to contain it, including coordinating to pause trading contracts within the hour. We are working closely with relevant law enforcement authorities, SEAL 911, and third-party cybersecurity experts. No founder ever wants to deliver an update like this. We recognize the responsibility that comes with building infrastructure that people choose to use and trust. We take that responsibility seriously, and our focus is on resolution and responding with transparency and accuracy. To the stablecoin issuers, bridges, protocols, and security partners who have moved quickly to assist us: thank you for your continued support. We will continue to provide updates as they arise.

Couldn't be more excited to be partnering with @Nasdaq for our equities data! It took months of discussion and downstream engineering effort around data integrity, security, display policies and more to get us here. Blockchains (and AI!) are fundamentally reshaping how market data is distributed, and our data partnership with Nasdaq is a huge step forward not only for Ostium but the industry more broadly as DeFi and TradFi continue to converge. Super proud of the team!