OPNX, a cryptocurrency bankruptcy claims platform initiated by the founders of the now-defunct hedge fund Three Arrows Capital (3AC), has announced it will terminate all operations and close down by February 14th. In a communication to its users, the platform has urgently advised them to settle their positions by February 7th and ensure all funds are withdrawn before the February 14th deadline, after which the withdrawal functionalities will be permanently disabled.
Three Arrows Capital (3AC) is one of the big crypto insolvencies. A court in the British Virgin Islands (BVI) has issued an order to freeze assets valued at over $1 billion belonging to the founders of the now-defunct crypto hedge fund Three Arrows Capital (3AC), Kyle Davies and Su Zhu. The order also extends to Kelly Chen, the wife of co-founder Kyle Davies, prohibiting the transfer or sale of the founders' digital assets.
Rumors that Su Zhu, the co-founder of the collapsed and bankrupt crypto hedge fund Three Arrows Capital (3AC), was arrested in Singapore due to his non-compliance with a Singapore court were confirmed. He was ordered to cooperate in the liquidation investigation, which he didn't. Thus, Zhu has been sentenced to a four-month prison term. 3AC was part of the crypto hype between 2020 and 2021 before it collapsed, like many others.
Teneo, the court-appointed liquidator of collapsed crypto hedge fund Three Arrows Capital (3AC), secured a key court decision in Singapore that may give them greater insight into the collapsed crypto hedge fund’s remaining assets in a major jurisdiction. Being a foreign entity, Teneo lacked the legal basis to request access to any financial records the fund kept in Singapore. With the petition granted, Teneo can investigate what 3AC assets are held in Singapore.