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She made frequent appearances in Debir Court in The Matrix Online before the game's cancellation in mid 2009. The Oracle helped redpills who needed guidance during missions. The General had tried to kill her with kill code bullets, but she was rescued by the Kid.
In April 2008, shortly after the game's third anniversary, the Oracle was killed by a man calling himself Halborn, a human jacked into the Matrix with no RSI, and thus represented by a wire frame. In ways still unknown, he had acquired powers that greatly exceed that of an Agent. He killed the Oracle in retaliation of her refusal to disclose the location of the Biological Interface Program, Halborn's ultimate goal.
Before cancellation, Zion had been attempting to find a way to 'revive' the Oracle. A figure that appears to be a younger Oracle appeared before The Kid and his operatives.
It was revealed that the Oracle was responsible for the Biological Interface Program, and that both Neo and Trinity were a part of that program.
It is possible that the inspiration for the character of the Oracle, and indeed the name, came from the Oracle Machine. In complexity theory and computability theory, an oracle machine is an abstract machine used to study decision problems.
Read more about this topic: Oracle (The Matrix)