The crypto world is in turmoil as Su Zhu, co-founder of the now-defunct hedge fund Three Arrows Capital (3AC), has been arrested in Singapore. This arrest comes after the fund managed over $10 billion in digital assets before its collapse last June.
Su Zhu was apprehended while attempting to flee the country, following a court order that compelled him to cooperate with liquidators. He has been sentenced to four months in prison, and the hunt is on for his co-founder, Kyle Livingston Davies, whose whereabouts remain unknown.
This isn’t just a story of a fallen giant; it’s a cautionary tale for the entire crypto industry. Regulatory bodies are tightening their grip, and no one is above the law.
🌐 Sources: https://cointelegraph.com/magazine/3ac-opnx-asia-express/
