Three Arrows founder Su Zhu arrested at Singapore airport

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Three Arrows founder Su Zhu arrested at Singapore airport

Su Zhu, one of the founders of a collapsed crypto hedge fund Three Arrows Capital, has been apprehended at Singapore's Changi Airport, the company's liquidators Teneo said on Friday.

Teneo said Zhu will spend four months in prison after failing tocomplie 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.

It was not immediately possible to verify Zhu's arrest, but Reuters was not immediately able to verify his arrest. A law firm representing Zhu and lawyers for Davies did not immediately respond to a request for comment. Singapore police did not immediately respond to a request for comment.

The first high-profile cryptocurrency firm, Three Arrows Capital, collapsed in 2022 after being hit by a sharp sell-off in crypto markets.

Davies pushed back claims from Teneo that he and Zhu were not cooperating with the liquidation process in November 2022.

We have been cooperating whole the way, he told CNBC.