Three Arrows Capital (3AC) co-founder Su Zhu was arrested on September 29 in Singapore, while “failing to cooperate” with the authorities, according to a statement from Teneo, reported by global media outlets. The former cryptocurrency hedge fund owner leaves behind on-chain traces within his crypto wallet.
In the context of Zhu’s detention, Finbold recurred to Arkham Intelligence‘s platform to understand the current state of 3AC’s co-founder crypto holdings, in order to understand possible financial outcomes from this arrest, and what history the on-chain trails have left behind this arrestment.
Notably, Three Arrows Capital was one of the biggest companies affected by the collapse of Terra (LUNA, now LUNC), due to the hedge fund’s high exposure to Do Kwon’s project, who reportedly had a close relationship with Su Zhu.
Su Zhu crypto wallet portfolio. Source: Arkham Intelligence
The stETH token is a synthetic version of Ethereum (ETH), rewarded to Lido stakers.
Interestingly, although 87% of these $129,405 holdings are in the Ethereum Network, a surprising 13% are kept using Coinbase’s layer-2 newly released blockchain, Base.
Su Zhu crypto holdings by chain. Source: Arkham Intelligence
Moreover, despite being arrested, Zhu’s known addresses are receiving undisclosed multiple transactions of around $50 in ETH in the last few hours from Friend Tech’s known wallets.
Su Zhu known addresses data. Source: Arkham Intelligence
Also, by looking at the 1,607-day data history, it is possible to see that the 3AC co-founder made 62% of all his crypto deposits (usually signaling an intention to sell) on Coinbase, and 15% on Binance. However, 80% of his withdrawals (usually after a purchase was made) came from Binance, and 14% from OKX exchange.
