Three Arrows Capital (3AC) Gets Subpoenaed on Twitter, Founders Still Out of Sight

Three Arrows Capital (3AC) Gets Subpoenaed On Twitter, Founders Still Out Of Sight

The founders of the wrecked Three Arrows Capital (3AC) crypto hedge fund have had to go through hardships ever since the drastic collapse of Terra (LUNA) and its stablecoin Terra (UST). Now, the United States regulators are after the perplexed owners, Kyle Davies & Su Zhu.

Currently, two U.S. legislation entities, the SEC & CFTC, have launched probes into Three Arrows Capital (3AC) for a lengthy list of violations that left a lot of investors in the gutter with over $1 billion in debt.

The trouble for Three Arrows Capital (3AC) began with the Terra (LUNA) implosion, sending down the drain a whopping $60 billion. The company executives have left a pile of old mail in their Singapore headquarters, got detained by local police in Dubai, UAE, and even managed to pay a deposit for a run-away yacht.

Subpoenas on Twitter for Three Arrows Capital (3AC)

Moreover, Teneo, the liquidation company, pointed out that “because normal methods have failed,” they want to issue digital subpoenas to the aforementioned owners of the tapped-out crypto hedge fund. That includes Twitter accounts and email addresses, as well as other social media channels.

Crumpler & Farmer, the two court-appointed liquidators, disclosed that the founders of Three Arrows Capital (3AC) haven’t been in touch since July. The duo vanished after the Zoom call and were delinquent in providing enough documentation, according to Russell Crumpler. To illustrate, Crumpler mentioned a safety deposit box with credentials to multiple wallets.

This comes just weeks after 300 NFTs, some of them blue-chip NFTs worth $3.5 million, owned by Starry Night Capital were transferred to a Gnosis Safe wallet. Besides, Three Arrows Capital (3AC) reclaimed $45 million from Convex Finance & Curve.

On the Flipside

  • Su Zhu, one of the co-founders, said “our good faith to cooperate with the Liquidators was met with baiting.”
  • The cat & mouse game with Singapore authorities resembles Do Kwon’s avoidance of the Interpol Red Notice.
  • Su Zhu & Kyle Davies previously sued their own organization for $30 million while on the run.

Why You Should Care

Three Arrows Capital (3AC) was one of the most successful crypto hedge funds, before falling to Terra Luna’s $60 billion crypto beatdown.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Tadas Klimasevskis

Tadas Klimasevskis is an author & reporter, focusing on the latest tendencies of the crypto galaxy. Tadas spends his time digging deeper into specific areas like coins such as Shiba Inu (SHIB) & Dogecoin (DOGE), music NFTs, sports NFTs, digital art, and Pop culture in Web 3.0. Tadas strongly believes in crypto as disruptive innovation and keeps an eye out for new crypto hubs being developed around the globe. His vast experience in social media lets him quickly spot what’s going on in the mercurial world of crypto and deliver stories with unique spins. He has been active in blockchain and cryptocurrencies since 2019.