According to CoinMeta, Ostium indicates that the $23.7 million attack was not due to a smart contract vulnerability, but rather the attackers exploited offline infrastructure to manipulate the Bitcoin price to $5,000 and $60,000 in order to create false profits in the liquidity pool. The entire attack lasted less than 6 minutes, starting with tests at $100 before rapidly expanding. Trading has since resumed after a full migration to the new production environment.