According to CoinDesk, Singapore Police arrested a 36-year-old man at Changi airport on September 29, in response to a query regarding the arrest of Su Zhu, one of the founders of the bankrupt crypto hedge fund Three Arrows Capital (3AC). The police did not reveal the name or provide further comment to Reuters. Last week, 3AC liquidator Teneo stated that Zhu had been arrested, but city officials have not fully confirmed the move yet.
The other co-founder of 3AC, Kyle Davies, remains at large and his location is unknown. Both founders are the subject of a committal order sentencing them to four months' imprisonment due to failure to comply with a court order. Once a premier fund in the crypto industry, 3AC lost billions of dollars after a series of bad trades and investments across 2021 and 2022, leading to the fund's closure and impacting the broader market. The fund now owes creditors approximately $2.8 billion, and both Davies and Zhu have seemingly been on the run from relevant authorities since last year.
