Three Arrows Capital’s liquidators have seized $35.6 million from the collapsed crypto hedge fund’s bank accounts in Singapore.
The cash seized by Teneo, a New York-headquartered liquidation company appointed by a British Virgin Islands court, is the largest amount of money it has taken since the collapse of 3AC in July, which left it with $3.5-billion in debt.
As per the court hearing on Friday, the liquidators have regained $2.8 million from forced investment redemptions, as well as an undisclosed number of crypto tokens and non-fungible tokens (NFTs).Â
It is a difficult assignment for the liquidators to trace and protect the residual assets of 3AC so that they can be distributed to investors and hedge fund founders Kyle Davis and Su Zhu haven’t made matters any easier, Teneo said, adding that both have been uncooperative since last summer.
Also Read: Singapore Court Grants Approval to 3AC Liquidators for Fund Probe
