Founders of Crypto Hedge Fund Three Arrows Capital Disappear

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San Francisco: The founders of bankrupt cryptocurrency hedge fund Three Arrows Capital (3AC) have gone missing and those responsible for liquidating the company have been looking for their whereabouts.

The mega fund, founded by Credit Suisse traders Zhu Su and Kyle Davies, once managed assets estimated at $10 billion.

Now Zhu Su and Kyle Davies are missing, reports The Verge.

According to a court document, the whereabouts of Zhu and Davies are currently unknown.

Its liquidators said they received “no meaningful cooperation” from the duo.

A court in the British Virgin Islands has appointed corporate management company Teneo to oversee the liquidation of 3AC.

Singapore-based 3AC filed for bankruptcy in the United States earlier this month to protect its assets from creditors.

The bankruptcy came as popular crypto tokens such as Bitcoin and Ethereum fell nearly 70% from their all-time highs amid the economic crisis.

3AC defaulted on a loan of more than $650 million from crypto broker Voyager Digital, which also filed for bankruptcy.

Voyager had large investments in 3AC, which failed to make payments on a loan of 15,250 Bitcoin and $350 million USDC, making the loan worth over $650 million.

3AC also allegedly failed to repay $270 million to crypto exchange blockchain.com.

The Monetary Authority of Singapore criticized Three Arrows for providing false information and crossing an assets under management threshold, the report noted.

(IANS)

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