ESS Frontier files lawsuit against on-chain perpetual protocol Ostium to compel arbitration

ESS Frontier LLC filed a lawsuit in the U.S. District Court for the Southern District of New York on September 4, 2026, against Ostium Foundation, Ostium Labs Co., Deltax LTD., DX Group Limited, and CEO Kaledora Kiernan-Linn, among others. The case involves a petition to compel arbitration and appoint an arbitrator under 09 U.S.C. § 206 regarding approximately $15 million in crypto loans. ESS Frontier LLC is acting as the assignee of creditor Minghui Zheng. A hearing is scheduled for September 17. Ostium is an Arbitrum-based perpetual futures protocol offering leverage on stocks, commodities, forex, and crypto assets.