Crypto bankruptcy filings: From 3AC to BlockFi
Here is a timeline of the major crypto bankruptcies in the past six months.
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Crypto Hedge Fund 3AC Co-Founder's Arrest Seemingly Confirmed by Singapore Police
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Singaporean authorities have all but confirmed the apprehension of Su Zhu, a co-founder of the defunct cryptocurrency hedge fund, Three Arrows Capital.
Coinlive reported on Zhu's arrest on September 29th at Changi Airport.
The Singaporean police acknowledged the arrest of a "36-year-old man" on the same date but refrained from disclosing his identity or providing further details.
Facing Charges
Zhu now faces a four-month prison sentence under an arrest order for his alleged non-cooperation with investigations into the affairs of Three Arrows Capital.
Despite numerous attempts to obtain comments, a law firm representing Zhu and representatives of Three Arrows co-founder Kyle Davies have remained silent.
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Zhu's last activity on the X platform, a communication medium, was noted on September 29th, when he conveyed, "Happy Mid-Autumn Festival" in Chinese.
Before this date, he was actively involved on the platform.
Demise of Three Arrows Capital
Three Arrows Capital's downfall, marked by substantial losses resulting from ill-fated trades and investments spanning 2021 and 2022, triggered a cascade effect across the wider cryptocurrency market.
Currently, the fund reportedly owes creditors an approximate total of $2.8 billion, and both Davies and Zhu have seemingly evaded authorities since the events of last year.
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