An exchange address at Three Arrows Capital received $1 million in ETH.
After filing for bankruptcy, Three Arrows Capital made it clear that it did not have enough funds to pay its debts. The $1 million ETH transfer from OKX may indicate that the co-founders of 3AC may have some funds hidden in private wallets and cryptocurrency exchanges that are not tied to their names.
The notorious crypto fund that filed for bankruptcy after Bitcoin plummeted to $21,000 unexpectedly received $1 million in ether from one of its exchange addresses. Such activity comes as a surprise to 3AC management's statement that they have no funds to pay investors.
Back in July, Three Arrows co-founders Kyle Davis and Su Zhu lost a lot of money as Bitcoin’s unexpected crash dragged the market down. However, both traders categorically denied cashing out before the implosion.
After filing for bankruptcy, the fund made it clear that it did not have significant funds to cover its liabilities. Before long, users discovered Suju's $50 million yacht, several homes in Singapore and other assets that could have been paid for.
A recent $1 million transfer from OKX suggests that the co-founders of 3AC may have some funds hidden in private wallets and cryptocurrency exchanges that are not related to their names.
Due to the decentralized nature of the industry, it can be difficult to definitively tell how much assets an entity has left and whether there is anything hidden on their personal ledger.
