Three Arrows Capital Co-Founder Su Zhu Arrested in Singapore

Su Zhu, the co-founder of the bankrupt crypto hedge fund Three Arrows Capital, was arrested at Changi Airport in Singapore on Friday, September 29, while attempting to leave the country, according to a report from The Business Times. This development came on the heels of a committal order issued by the Singapore Courts against Zhu Su, as confirmed by Teneo, the joint liquidators overseeing the aftermath of Three Arrows Capital's collapse.

The once-popular hedge fund, which faced insurmountable challenges and ultimately collapsed in 2022, had far-reaching consequences for the crypto industry, plunging it into what was termed a "crypto winter."

The downfall of Three Arrows Capital, co-founded by Su Zhu and Kyle Davies, was a stark reminder of the volatile nature of the crypto market. Notably, the hedge fund collapsed following the infamous UST stablecoin depeg.

Zhu Su's arrest stemmed from his failure to comply with a court order, resulting in a four-month imprisonment sentence. Meanwhile, the whereabouts of co-founder Kyle Davies remain unknown, adding another layer of intrigue to this ongoing crypto saga.