New York court to hear $15M loan suit against Ostium

A federal court in New York is set to hear a $15 million loan lawsuit filed against on-chain perpetual futures exchange Ostium. Ostium suffered $23.75 million in losses from an exploit in July. Earlier this month, ESS Frontier and Hong Kong lender Minghui Zheng sued Ostium and asked the court to freeze Ostium’s assets and refer the dispute to arbitration.