Ostium resumed operations today, July 23, after a $24 million exploit forced the exchange offline. The company didn't share many details about the attack, but said it had addressed the vulnerability and restored services.
The exploit and recovery
The breach hit Ostium earlier this month. The exchange paused withdrawals and trading while it investigated. Now, after what it called a 'thorough security review,' the platform is live again. Users can log in and trade, though the exchange hasn't said whether any customer funds were lost or if it plans to reimburse anyone. The $24 million figure puts the incident among the larger exchange hacks this year, though not the largest.
Bitcoin's price outlook
Separately, a predictive model gives Bitcoin a 99.9% confidence level of trading above $54,000 by today. The forecast, which relies on on-chain and market data, suggests the largest cryptocurrency is holding steady despite the broader market's recent jitters.
Whether Ostium's return will boost confidence in the sector remains an open question. The exchange has not announced any additional security measures or a timeline for a post-mortem report.
