Singapore Police Confirm Arrest Of One Of The Founders Of Three Arrows Capital

Su Zhu, co-founder of the crypto hedge fund Three Arrows Capital (photo: Doc. Coincholik)

JAKARTA - The Singapore Police have confirmed the arrest of Su Zhu, one of the founders of the bankrupt crypto hedge fund Three Arrows Capital.

Last week, the company's liquidator, Teneo, said Zhu had been "arrested" on September 29 at Changi Airport, Singapore.

In response to questions from the media about the report, Singapore police confirmed on Thursday 5 October the arrest of a "36-year-old man" on 29 September. Police did not identify the man arrested or provide further explanation in his response to Reuters.

Three Arrows Capital is one of the first major crypto companies to collapse in 2022, filing for bankruptcy after being hit by sharp sales on the crypto market.

Zhu faces four months in prison under arrest orders after she is not working closely with the investigation into the Three Arrows Capital.

The legal firm representing Zhu and representatives for the Three Arrows co-founder, Kyle Davies, have not responded to requests for comment from the media.

In an interview in November 2022, Davies denied Teneo's claim that he and Zhu were not working with the liquidation process. "We've been working together all the time," Davies told CNBC.