Su Zhu, the co-founder of defunct crypto hedge fund Three Arrows Capital (3AC), has been arrested by authorities in Singapore after attempting to leave the country.

Teneo, the joint liquidators of his fallen company, confirmed the news in a statement shared with Decrypt on Friday.

“Su Zhu was apprehended at Changi Airport whilst attempting to travel out of Singapore following a committal order by the Singapore courts against him,” read the company’s statement.

“Mr. Zhu will be held in prison to serve his sentence for four months,” the firm added. Zhu’s fellow co-founder, Kyle Davies, is also due for four months behind bars, though his whereabouts remain unknown.

Teneo said it filed and obtained its committal order against Zhu on Monday after the founder refused to follow a court order compelling him to account for his activities as 3AC’s founder and investment manager.

3AC fell apart in June 2022 due to overexposure to the algorithmic stablecoin protocol, Terra, which entered an inflationary death spiral in the previous month. Both Zhu and Davies have admitted they were close to Terra co-founder Do Kwon, who was arrested in Montenegro earlier this year.

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Author: Andrew Throuvalas

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