Odaily Planet Daily reports: Ostium, a perpetual contracts DEX on Arbitrum, has announced that trading will resume on July 23 at 10:00 AM Eastern Time. All open positions and pending orders will be retained as-is, re-marked at the real-time market price upon restoration, and assessed for potential liquidation or take-profit/stop-loss triggers. The protocol will restore functionality in phases: initially, only position-reducing actions—such as closing positions, adding margin, modifying or canceling orders, and automated take-profit/stop-loss and liquidation—will be enabled. New position opening will be reactivated only after all pending orders have been executed. Ostium has also announced a pause on new OLP liquidity deposits; existing LP withdrawals will be processed in the next settlement cycle. Users are reminded to be cautious of impersonator scam accounts—the official team will never request private keys or seed phrases. Previously, Ostium on Arbitrum appeared to have been compromised, resulting in losses of approximately $18 million.
Ostium to Resume Trading on July 23, with Phased Recovery of Protocol Functions
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Summary
Ostium will resume trading on July 23 at 10:00 AM ET, according to on-chain data. Open positions and orders will be repriced using real-time market rates. Initial functions will include closing positions, adding margin, and modifying orders. New positions will open after existing orders are executed. On-chain analysis shows that liquidity deposits are paused, while withdrawals will be processed in the next cycle. Users are warned about impersonation scams. The protocol previously lost $18 million in a suspected hack.
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