3 Arrows hedge fund founder Su Zhu arrested

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3 Arrows hedge fund founder Su Zhu arrested

Su Zhu, one of the founders of the now-defunct crypto hedge fund Three Arrows Capital, was nabbed on Sept. 29 by authorities at Changi Airport while attempting to flee Singapore.

Teneo obtained a court order for Zhu's arrest on Sept. 25 after the crypto company refused to comply with an earlier Singapore court order demanding Zhu to cooperate with the liquidator in the liquidation investigation.

Teneo said he feared the company would suck.

Zhu will be held in prison for four months. While there, liquidators will conduct an investigation related to the failed cryptocurrency hedge fund, including the recovery of assets that belong to the business or were acquired using its funds.

On the other hand, Davies' whereabouts are unknown.

Teneo said its priority has been recovering the assets of 3AC and maximizing returns for its creditors.

A few weeks ago, the Monetary Authority of Singapore, the country's central bank and financial regulatory authority, slapped Zhu and Davies with a nine-year ban on finance.

In August, Zhu and Davies made headlines when the Virtual Assets Regulatory Authority, a Dubai regulatory body, revealed that the executives had been fined since May for violating Dubai's regulations.

The so-called algorithmic stablecoin terraUSD de-pegged from the dollar, which managed around $10 billion assets during its peak in 2022, collapsed in the summer of the same year.