Despite "Missing" Founders, Wallet Associated with Bankrupt Three Arrows Capital Shows Activity

Jamie Larson

• 1 min read
Despite "Missing" Founders, Wallet Associated with Bankrupt Three Arrows Capital Shows Activity

Teneo, the firm in charge of 3AC'S bankruptcy procedures, transferred some of the non-fungible tokens (NFTs) gathered by Starry Night Capital, an NFT fund created by the insolvent Singaporean crypto hedge fund Three Arrows Capital (3AC), to a new wallet.

According to data gathered by blockchain analytics platform Nansen, the tokens that were transferred to a Gnosis Safe address include Pepe the Frog NFT Genesis, sold for ETH 1,000, or roughly $1.36 at the cryptocurrency's current price, in October 2021, and Fidenza #718, sold for ETH 240 in November 2021.

Three NFTs by XCOPY, including Some Other Asshole, bought for ETH 550 in December 2021, DANKRUPT, sold for ETH 469 in October 2021, and DECAY, purchased for ETH 345.69 in December 2021, were also transferred, the company stated.

Other coins include two works by Matt DesLauriers and Robbie Barrat's AI Generated Nude Portrait #7 Frame #184, which were both sold for ETH 300 in October 2021. There are also various CryptoToadz, including #5634 and #54, which were bought for ETH 135 and ETH 25 in October 2021, respectively. Meridian NFTs #684 and #171 by the artist were bought for ETH 90 each in November 2021 and ETH 80 in December 2021, respectively.

According to Bloomberg, more than 300 tokens were removed altogether.

The news is likely to draw in those who have lost money as a result of 3AC's financial difficulties. A Singaporean court granted the fund's liquidators access to important documents in August of last year, allowing them to learn more about the assets of the failed company. According to estimates, Three Arrows owes its creditors unsecured claims totaling more than USD 2.8 billion.

Su Zhu and Kyle Davies, the two co-founders of 3AC, have made an attempt to blend into the background ever since their business failed. Despite this, Zhu was recently discovered to be attempting to sell a home he had just purchased in Singapore for around $34.3 million, or SGD 48.8 million.