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      ESS Frontier Files Lawsuit Against Ostium and Co-Founders in New York

      ESS Frontier LLC has initiated legal proceedings against Ostium Foundation, Ostium Labs Co., Deltax LTD., DX Group Limited, and Ostium co-founder Kaledora Kiernan-Linn in the United States District Court for the Southern District of New York. The lawsuit, filed on September 4, 2026, addresses arbitration matters and seeks a mandatory arbitration order along with the appointment of an arbitrator under 09 U.S.C. § 206.

      The case arises from a dispute involving approximately $15 million in crypto loans, with ESS Frontier acting as the assignee of the debt owed by Hong Kong lender Minghui Zheng. On September 14, the plaintiff amended the complaint to include Zheng as a co-plaintiff. The court has scheduled a hearing for September 17, 2026, to address the motions submitted by ESS Frontier, which include a request for a temporary restraining order and a motion to seal certain materials.

      Ostium is known for its on-chain perpetual contract protocol that operates on the Arbitrum network, facilitating leveraged trading across various asset classes, including stocks, commodities, foreign exchange, and cryptocurrencies.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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      Terra Founder Do Kwon Sentenced to 15 Years in Prison for Fraud