- Three Arrows Capital was issued subpoenas via their Twitter account.
- The Liquidators are seeking access to all the details about the 3AC.
The founders of the bankrupt cryptocurrency hedge fund Three Arrows Capital “3AC”, Zhu Su and Kyle Davies, reportedly received a unique court subpoena via their “Twitter account”. On January 5th, 2023, a tweet thread about the subpoena was posted on the official Twitter account ‘3ACLiquidation’, for the court-appointed joint Liquidators of the defunct crypto hedge fund.
Both co-founders have not been seen or heard from since their mysterious disappearance. Two were allegedly unwilling to be involved in the bankruptcy proceedings. According to Liquidator Teneo, the communication protocol that was agreed upon between the Liquidators and founders also not occurred on December 2, 2022.
@KyleLDavies jpg copies of the subpoena are attached to this tweet by way of service. An unredacted copy of the subpoena was served via email and can be provided upon request. pic.twitter.com/XAYzQ4Oveo— 3ACLiquidation (@3ACLiq) January 5, 2023
3AC is in Wind up
Three Arrows Capital filed for Chapter 15 bankruptcy on July 1, 2022, due to its insolvency. While the hedge fund had a net worth of $10 billion. Chapter 15 bankruptcy is designed for foreign insolvency cases.
According to the liquidator’s earlier statement, the founders are reportedly located in Indonesia and the United Arab Emirates. Where it is hard to implement foreign court orders.
However, following the demise of FTX, Davies and Zhu have used Twitter more frequently these days. Even in the midst of the scandal, they criticized Genesis and Digital Currency Group (DCG). Additionally, Davies has brought up the UST de-pegging and LUNA disaster.
Subpoena was issued after Singaporean authorities provided the founders’ authorization due to an American bankruptcy court order, as per the leading platform report. Further, the Liquidators are attempting to obtain access to all the details about the 3AC. Includes, account details, private keys for 3AC’s digital and fiat assets as well as data about the company’s securities, and unregistered shares.
Moreover, Liquidator Teneo seized Three Arrows Capital’s Singaporean bank accounts worth $35.6 million on December 2, 2022. Also, he hopes to make $30 million from the sale of the luxury yacht named “Much Wow.”