Three arrows capital: where has the money gone after its bankruptcy?

Although Three Arrows Capital Pte Ltd (3AC) has filed Chapter 15 bankruptcy protection on July 1, 2022, there are still regular activities in their crypto wallets. Who has been controlling the wallet addresses? Are they Su Zhu and Kyle Davies?

I have been tracing 3AC's wallet since 2021, the followings are some of my findings.


Has 3AC been selling their tokens?


The major 5 wallet addresses of 3AC are:
0x8e04af7f7c76daa9ab429b1340e0327b5b835748, with a value of US$2,370,131;
0xefa73f3858392565e1566b70caa27ce79337a2c3, with a value of US$14,411,069; 
0x085af684acdb1220d111fee971b733c5e5ae6ccd, with a value of US$7,538;
0x3ba21b6477f48273f41d241aa3722ffb9e07e247, with a value of US$562,594 ;
0x6038d7d281afb5150baf10518b8e26753fdf1a56, with a value of US$120.

The total value of the crypto-assets in these 5 wallets are worth 117.4 millions US Dollars.

Among the above wallets, 0xefa73f3858392565e1566b70caa27ce79337a2c3 and 0x8e04af7f7c76daa9ab429b1340e0327b5b835748 are still in actively trades within recent 3 months.

0xefa73f3858392565e1566b70caa27ce79337a2c3 has a value of US$14,411,069, and the latest transaction is on November 14, 2022.  There are only two token in this wallet at the moment and Ether compries 94.37% of the portfolio(12,040.3661 Ether). Another token is MKR, 1,249.9907MKR with a total value of US$815,593.



0x8e04af7f7c76daa9ab429b1340e0327b5b835748 has a value of US$ 2,370,131 , major cryptoassets are USDC(40.75%), USDT(30.77%) and ETH+WETH(26.637%),  and the latest transaction is on November 22,2022. With the reference of of Etherscan, Breadcrumbs, Debank, this wallet has been selling CRV, LDO, HFT, YGG, LINK, APE, MFT, AGLD, GRT and etc.



In general, many of the crypto-assets has been transferred to 0x8e04af7f7c76daa9ab429b1340e0327b5b835748 and has dumped on the market. 

The world is now focusing on FTX, yet we shall not forget 3AC.

Although the creditors has been desperately demanding their money bank, Su Zhu and Kyle Davies has been missing. Advisory firm Teneo has been appointed to manage the liquidation. However, it is believed that the crypto wallets are still controlled by Su Zhu and Kyle Davies, who remains disappeared.

After FTX has gone bankrupt, Paxos has frozen 11,184.38 PAXG tokens valued at FTX's 19 millions USD. 

Should 3AC's crypto-assets be frozen?


Reference: 
Founders of bankrupt crypto hedge fund 3AC go missing, as investors try to recoup assets PUBLISHED TUE, JUL 12 20228:29 AM EDT by MacKenzie Sigalos at CNBC.
https://www.cnbc.com/2022/07/12/founders-of-bankrupt-crypto-hedge-fund-three-arrows-go-missing.html










Comments

Post a Comment

Popular posts from this blog

Can blockchain technology optimise the voting system?

Image
  Blockchain's infrastructure is changing our lives in a way that most of us don't even realize. A few days ago, a reddit post titled "My state is exploring blockchain voting and I'm offered to give proof-of-concept" appeared, which is a very interesting topic that has recently been discussed. Even in the 21st century, fraud can still exist in our voting system. Electoral frauds can be election manipulation, voter fraud, or vote rigging. Even worse, the hacker or manipulator can change the data in the voting system. In the current voting system, supposing that all the data is kept on an admin server, if hackers want to change the vote count for a candidate, you may even not notice! So, how will blockchain technology change the voting system and prevent fraud? What's Blockchain technology? A blockchain is a distributed ledger that is shared among the nodes of a computer network. Distributed ledger technologies (DLTs) , like blockchain, are peer-to-peer networ
Read more

Will wBTC be the Bitcoin killer after the collapse of FTX and 3AC?

Image
This article is also published in my linkedin: https://www.linkedin.com/pulse/wbtc-bitcoin-killer-after-collapse-ftx-3ac-jacky-huang/ What is BITGO? BITGO was founded in 2013 by Mike Belshe, who was impressed by the Bitcoin technology and emerging crypto market. Today, Bitgo is the leading company in digital asset security, custody, and liquidity, serving more than 1,500 institutional clients in 50+ countries. What is wBTC? Bitcoin has its own network and ecosystem. It was originally not connected to the Ethereum ecosystem. Wrapped Bitcoin (wBTC) was launched by Bitgo in January 2019 ; it is an Ethereum-network token that is backed 1:1 by Bitcoin. It allows users to interact with different Ethereum Dapps and the DEF system. In short, wBTC is the mirror of BTC in Ethereum network, accounting for 83.27% of total BTC on the Ethereum network.  Connection between Bitgo and Alameda Research Alameda Research and FTX has been filed bankruptcy. According to Bitgo's official website, BitGo
Read more