Su Zhu, co-founder of the crypto hedge fund Three Arrows Capital, has been arrested by Singaporean authorities at Changi Airport as he attempted to leave the country.
The arrest follows a “committal order” issued against Zhu for his “deliberate failure” to cooperate with investigations conducted by Teneo, the court-appointed joint liquidators overseeing the bankruptcy of Three Arrows Capital Ltd. The court order, dated Sept. 25, resulted in a four-month prison sentence for Zhu.
A similar order has been granted for Three Arrows’ other co-founder, Kyle Davies, whose current whereabouts are unknown, according to a Teneo spokesman.
Separately, the Monetary Authority of Singapore recently prohibited Zhu and Davies from engaging in regulated investment activity for nine years each.
Su Zhu, 36, and Kyle Davies, both Columbia University graduates and former derivatives traders for Credit Suisse, co-founded Three Arrows Capital in 2012.
Zhu gained industry attention by accurately calling the bottom of the “crypto winter” in 2018 when bitcoin traded below $4,000 per coin.
After this successful prediction, Zhu earned a reputation as a crypto markets prodigy. The arrest of Su Zhu is the latest in a series of legal actions against prominent figures from the crypto industry’s last bull cycle.
