A federal court in New York is hearing a dispute today involving a $15 million loan tied to on-chain perpetual contract exchange Ostium. Plaintiffs ESS Frontier and Hong Kong lender Minghui Zheng filed the lawsuit earlier this month, seeking an asset freeze and mandatory arbitration against the platform. The legal action follows a significant security breach at Ostium in July, which resulted in losses of $23.75 million. The plaintiffs are requesting judicial intervention to secure assets related to the outstanding loan amid the exchange's ongoing financial challenges stemming from the attack.