🚨Attention BTC enthusiasts! A British Virgin Islands (BVI) court has frozen a whopping $1 billion in assets belonging to the founders of Three Arrows Capital (3AC), a once-prominent cryptocurrency hedge fund.🚨

The freeze aims to protect creditors owed $3.3 billion by preventing co-founders Su Zhu and Kyle Davies, along with Davies' wife Kelly Chen, from transferring or disposing of assets up to $1.14 billion.🔒

Liquidator Teneo alleges that the founders' decisions led to the massive $3.3 billion debt and has been actively pursuing claims against them.💼

This latest court order is just one of many legal challenges faced by the 3AC founders, including a domestic freezing order from the Singapore Court and Zhu's arrest in Singapore in September.🚔

Three Arrows Capital, once a leading player in the crypto-native hedge fund space, filed for bankruptcy in the BVI after a series of leveraged bets backfired during a broader cryptocurrency market downturn.📉

This saga highlights the challenges facing the crypto industry, as several prominent figures who thrived during the bull run now face severe consequences due to risky financial practices.🔥