Ostium Loan Dispute Hearing Set in New York Federal Court

A New York federal court is set to hold a hearing today on a loan dispute involving Ostium, an RWA trading platform on Arbitrum, according to court filings. According to Foresight News, ESS Frontier and Hong Kong lender Minghui Zheng sued Ostium earlier this month, asking a judge to freeze its assets and send the dispute to arbitration. The defendants include the Cayman Islands Ostium Foundation, Ostium Labs, DeltaX Ltd., DX Group Limited, and co-founder and CEO Kaledora Kiernan-Linn. According to Foresight News, Ostium said on X that its off-chain infrastructure was hacked on July 15, leading to the withdrawal of 23,752,746 USDC from its public OLP liquidity provider vault.