Ostium, the perpetuals trading protocol built on Arbitrum, has opened a recovery portal for the $23.75 million exploit it suffered on July 15 — one of the more structured reimbursement programs the industry has produced this year.
The protocol took a snapshot of OLP balances at the time of the incident and identified 3,666 affected wallets. Of those, 3,321 — 90.59% — are eligible for full compensation of verified losses in the plan's first phase, Crypto Briefing reported. The remaining 345 wallets, holding larger positions, have been presented with a term sheet and a choice.
The Two-Track Structure
For the majority group, the math is simple: smaller wallets qualify for full repayment of verified losses. The 345 larger liquidity providers must choose between accepting a $1,000 payment and giving up their remaining claim, or entering a second-stage recovery plan that will distribute recovered funds proportionally, according to TokenPost. Wallets that make no selection automatically default to the second phase.
Every claim is being screened. Ostium said wallets are checked for links to Sybil activity and phishing operations before compensation is paid out, with flagged claims handled through a separate verification process — a nod to the reality that exploit recovery portals themselves attract fraudulent claims.
What Happened in July
The July 15 incident drained $23.75 million from the protocol. Ostium's post-mortem, published at the end of July, found no evidence of a flaw in its smart-contract logic and no compromise of the multisignature wallets that govern the protocol; the attack traced instead to its trusted price-forwarding infrastructure for oracle feeds.
The recovery that began this week closes the loop on an incident response that has unfolded at a measured pace: containment and service resumption in July, the post-mortem at month's end, and now claims and payouts in October. The structure — full repayment for the long tail of small victims, a negotiated path for concentrated positions — is becoming a familiar template, echoing the tiered programs rolled out after other 2025–2026 exploits.
What remains uncertain is the size of the second-phase pool for the 345 larger claimants. Ostium has not disclosed how much of the $23.75 million it has recovered or expects to recover, and the proportional second stage will depend on those figures. For the 3,321 wallets in the first tranche, however, the recovery is now a claims process rather than a waiting game.
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