An assessment released on September 18 by oracle provider Pragma labeled six of 22 mainnet market and rate feeds as critical risk, warning lenders that a quoted token price alone does not guarantee collateral can be sold to repay a loan. The evaluation followed a September 17 borrowing incident at Nostra, a lending protocol operating on Starknet. According to Nostra’s account, a manipulated NSTR oracle price enabled a single address to borrow roughly $3.5 million of other assets while using NSTR as collateral. Pragma placed BROTHER, DAI, DOG, EKUBO, LORDS and NSTR in its critical category, while nine additional feeds received a high‑risk rating. The report does not confirm that every listed feed is actually used as collateral.

An oracle delivers a valuation, but liquidation requires converting collateral into cash. In markets with limited depth, the sale price can fall far below the quoted amount. When a loan is backed by an apparent value that cannot be realized upon repayment, the risk of loss increases. Pragma measured sell‑quote deterioration at approximately 15 % for NSTR, 17 % for EKUBO, 22 % for LORDS and 20 % for BROTHER when selling tokens valued at $10,000, compared with quotes for $10. The September 18 snapshot showed similar decay across the four tokens.

The DAI finding focuses on source concentration and the structure of Starknet token routes. Current and legacy deployments employed different exit curves, so the critical rating should not be read as a blanket assessment of DAI’s global illiquidity. Multiple source labels may reflect overlapping dependencies rather than independent vulnerabilities. Pragma cautioned that publishers and aggregators can share underlying market risks, meaning several labels might represent shared liquidity constraints.

In its September 17 incident report, Pragma noted that the deviating input stemmed from a manipulated on‑chain pool. Reconstruction of the data revealed no decimal errors or median‑calculation flaws. For depositors, the immediate effect was restricted access to affected services. Nostra responded by pausing lending, borrowing, withdrawals and liquidations while it examined the breach and traced the funds. The company indicated that final loss figures and potential recoveries remained uncertain.

Separately, Pragma reported that the attacker’s address had been frozen and that recovery efforts were ongoing. The episode leaves lenders confronting questions beyond the mere existence of a feed: which assets qualify as collateral, how much exposure is permissible, and whether exit liquidity can support liquidation. Simply publishing a price does not resolve these issues.