Two 3AC Founders Receive Court Subpoenas For Missing

Key Points:

• Two 3AC founders received a subpoena for their unknown whereabouts.
• The Singapore court ordered Zhu Su and Kyle Davies to provide information related to 3AC’s activities.
• Two founders have been missing since the collapse of the company. However, the failure of FTX has made them active again on social networks.

Two 3AC founders received a subpoena from the Singapore Court after a long time in hiding.

Founders Zhu Su and Kyle Davies of Three Arrows Capital, a crypto investment fund that went bankrupt in mid-2022 and contributed to a liquidity crisis in the cryptocurrency market, have been subpoenaed by the court via Twitter because it is not known where their whereabouts are.

On the evening of January 5, 2023, a Twitter account of what is said to be the liquidator of Three Arrows Capital’s assets posted court documents, requiring the two founders to comply.

Specifically, the Singapore Court required Zhu Su and Kyle Davies to provide information related to Three Arrows Capital’s activities, including books, records, vouchers, etc., to serve the bankruptcy case of the fund.

The bankruptcy court for the Southern District of New York also ordered Mr. Davies, a US citizen, to provide the necessary information to the liquidator.

This is an act of increasing the legal threat from the liquidator after accusing the two founders of Three Arrows Capital of deliberately running away and evading cooperation requests to restore the fund’s assets. After the collapse of this Singapore-based crypto investment fund, Mr. Zhu Su is said to have moved to Dubai (UAE), while Mr. Kyle Davies is “hiding” in Bali (Indonesia). Neither country has an extradition treaty with the US.

After a long period of silence, Su Zhu and Kyle Davies suddenly became active again on Twitter after the collapse and bankruptcy of FTX, repeatedly making statements that FTX – Alameda was intentional “bad play” makes Three Arrows Capital fall into misery. However, the community did not believe his allegations.

Recently, when it was reported that DCG – Genesis was also involved in a crisis, Su Zhu posted a theory that blamed FTX – DCG for conspiring together to bring down Three Arrows Capital, which also made him receive many criticisms from the community.

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