One of the founders of bankrupt crypto firm Three Arrows Capital arrested

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One of the founders of bankrupt crypto firm Three Arrows Capital arrested

One of the founders of the bankrupt crypto hedge firm Three Arrows Capital, Su Zhu, has been apprehended at Changi Airport in Singapore, Teneo said on Friday.

Teneo said Zhu will spend four months in prison after not complying with an order to cooperate with investigations into Three Arrows Capital, which filed for bankruptcy last year.

A similar order has also been granted to Zhu's co-founder Kyle Davies, but his 'whereabouts remain unknown at this point in time, Teneo said.

He has not yet been made available to verify Zhu's arrest. A law firm representing Zhu and lawyers for Davies did not immediately respond to a request for comment. Singapore police had not responded to a request for comment.

Three Arrows Capital, one of the first major cryptocurrency firms to collapse in 2022, filed for bankruptcy after a steep sell-off in crypto markets.

In a November 2022 interview, Davies pushed back on claims that he and Zhu were not cooperating with the liquidation process.

We've beencooperating the whole way,' said James Davies, a spokeswoman for CNBC.