#ostiumloandisputehearingsetinnyfederalcourt The repercussions of the July's massive $23.75M crypto exploit is hitting the courtroom. Today, on-chain perpetuals exchange Ostium faces a federal judge in Manhattan over a $15M loan dispute. Here is the update: The Plaintiffs: ESS Frontier and the lender Minghui Zheng are seeking the freeze of the assets and mandatory arbitration. The Background: The case stems from an alleged $15M loan default that follows the recent draining of nearly 24 million USDC from Ostium's vault. The Proceedings: The case is set for a hearing before Judge Lewis A. Kaplan today, with no live witnesses. With many exhibits still under seal, the whereabouts of the disputed funds remain unclear as Ostium faces mounting challenges. $KSM $AVA $UNI