Do Olives Go Bad?
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Olives do go bad but it takes a long time.
For olives stored in liquid brine in an unopened jar can "be good" for a couple of years. After the jar is opened, olives can last for 12-18 months. Olives can be stored well beyond the expiration/sell by date opened or closed.
When trying to see if olives are spoiled, look for signs of spoilage. One moldy olive in a jar means you need to toss the whole jar. Smell and texture may also be indicators of when olives go bad. Shriveled olives are probably beyond their prime.