Revealed: Liquidator’s report led to Three Arrows Capital founder’s arrest at Singapore Airport


  • Zhu Su, the founder of cryptocurrency hedge fund Three Arrows Capital, was arrested at Singapore Changi Airport, following a report from public liquidator Teneo, which exposed his location.
  • The arrest came after Zhu Su failed to comply with a Singapore court order related to the liquidation investigation of Three Arrows Capital, leading to a detention order and a four-month jail sentence.
  • While Zhu Su faces legal consequences, the other founding executive of Three Arrows Capital, Kyle Davies, remains missing; liquidators continue to collaborate with global law enforcement to locate him and progress the liquidation case.

Zhu Su, the founding executive of the renowned cryptocurrency hedge fund Three Arrows Capital, who was arrested at Singapore Changi Airport, was reported to the police by the consulting firm Teneo. The arrest occurred amid unfolding liquidation affairs of the hedge fund, managed by Teneo. 

According to a local media outlet Zaoboo, Teneo played a pivotal role in unmasking Zhu Su’s whereabouts, leading to his arrest.

Zhu Su’s high-profile arrest unfolded on September 29 when liquidator Teneo, who was keeping tabs on his activities, spotted a vehicle departing from his upscale Yarwood Avenue bungalow heading to the airport. Acting swiftly, they alerted the authorities about the possible exit attempt. Zhu Su, who was already on a no-fly list due to a detention order, was apprehended at the immigration exit checkpoint.

Moreover, on October 5, the Singapore police validated the arrest of a 36-year-old individual at the airport while withholding the identity. However, sources close to the matter later confirmed the individual to be none other than Zhu Su. His attempt to leave Singapore comes against a court order mandating his cooperation with ongoing liquidation investigations, a directive he allegedly defied, culminating in his arrest and a four-month jail sentence.

The hunt for Kyle Davies continues

As the crypto community reels from Zhu Su’s arrest, the whereabouts of Kyle Davies, another spearhead of Three Arrows Capital, remains shrouded in mystery. The ongoing search for Davies amplifies the magnitude of the unfolding drama around Three Arrows Capital, once a celebrated name in the crypto hedge fund arena.

According to Zaoboo—citing people familiar with the matter—Teneo plans to request permission to visit Zhu Su, who is currently serving time in Changi Prison, to obtain information about assets related to Three Arrows Capital. If Zhu Su declines to meet, the liquidator may take additional measures to compel compliance.

As per the latest update, Teneo stated that Zhu Su had failed to comply with the instructions issued by the Singapore court earlier, which required him to cooperate with the liquidation investigation. As a result, the court issued a detention injunction and sentenced him to four months in prison. Davis was also issued a detention injunction and sentenced to the same prison term for similar reasons.

The ripple effect of these developments extends beyond the individuals involved. Both Zhu Su and Davies recently faced a nine-year ban slapped by the Monetary Authority of Singapore, barring them from engaging in activities under the Securities and Futures Act. This also precludes them from holding pivotal positions or substantial shares in any capital market services entities.

The journey of Three Arrows Capital, established in 2012, met a tumultuous turn last year with the collapse of stablecoin TerraUSD and related token Luna, propelling the firm into bankruptcy proceedings as mandated by the Singapore High Court.

In a November 2022 interview with CNBC, Davies refuted Teneo’s claims that he and Zhu were uncooperative with the liquidation process, stating that they had been cooperating throughout.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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Damilola Lawrence

Damilola is a crypto enthusiast, content writer, and journalist. When he is not writing, he spends most of his time reading and keeping tabs on exciting projects in the blockchain space. He also studies the ramifications of Web3 and blockchain development to have a stake in the future economy.

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