Three Arrows Capital Wallet Removed $33 Million Worth Of stETH From Curve Pool
According to on-chain data, a wallet linked to the insolvent crypto hedge fund Three Arrows Capital removed $33 million worth of staked Ether (stETH) from the Curve pool.
The Singapore-based investment fund filed for bankruptcy in July 2022. According to the stats, Three Arrows Capital withdrew 200 BTC, 4 million USDT, and about $4 million worth of WETH from Convex, a platform that boosts rewards for Curve stakers and liquidity providers.
From Nansen’s data, a wallet marked as belonging to 3AC has been inactive 10 days since unwrapping $9 million worth of stETH.
Three Arrows Capital was one of the companies that went bankrupt during this year’s cryptocurrency bear market. According to a court statement published in July by its liquidator Teneo, it owes its creditors $2.8 billion due to a series of highly leveraged trades about the Terra (LUNA) network, which failed in May.
Based in New York, Teneo obtained a vital court judgment in Singapore on August 24, authorizing it to investigate 3AC’s local assets. Teneo controlled at least $40 million of the firm’s assets.
As of now, the hedge fund has yet to comment on the latest news.
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