New York Court to Hear Ostium $15 Million Loan Lawsuit

A U.S. New York federal court is set to hear a $15 million loan dispute involving the on-chain perpetual futures exchange Ostium. Ostium incurred a $23.75 million loss in July from a security exploit. Earlier this month, ESS Frontier and Hong Kong-based lender Minghui Zheng filed a lawsuit against Ostium, requesting the court freeze its assets and refer the dispute to arbitration.