Wallet Associated with Bankrupt Three Arrows Capital Shows Activity Despite ‘Missing’ Founders

Source: Adobe/Proxima Studio

Numerous non-fungible tokens (NFTs) collected by Starry Night Capital, an NFT fund established through the Singaporean bankrupt crypto hedge fund Three Arrows Capital (3AC), were moved to a different wallet by Teneo, the consultancy leading 3AC’S personal bankruptcy proceedings.

The tokens that have been gone to live in a Gnosis Safe address include Pepe the Frog NFT Genesis, offered for ETH 1,000, or about $1.36 in the crypto’s current cost, in October 2021, and Fidenza #718, offered for ETH 240 in November 2021, based on data collected by blockchain analytics platform Nansen. 

Other NFTs that have been transferred include three pieces by XCOPY, including Another Asshole, purchased for ETH 550 in December 2021, DANKRUPT, offered for ETH 469 in October 2021, and DECAY, bought for ETH 345.69 in December 2021, the firm stated. 

Other tokens comprise AI Generated Nude Portrait #7 Frame #184 by Robbie Barrat, offered for ETH 300 in October 2021, several CryptoToadz including #5634 and #54, purchased for ETH 135 and ETH 25, correspondingly, in October 2021, and 2 pieces by Matt DesLauriers. The artist’s Meridian #684 and #171 NFTs were acquired for ETH 90 in November 2021 and ETH 80 in December 2021, correspondingly.

As a whole, greater than 300 tokens were moved out, Bloomberg reported.

The event will probably lure the interest of individuals who’ve lost their because of 3AC’s financial woes. Last August, the fund’s liquidators acquired the permission of the Singaporean court to gain access to key records, securing more details concerning the assets from the collapsed firm. Three Arrows is believed to owe greater than USD 2.8bn in unsecured states its creditors. 

Since their company’s collapse, 3AC’s two co-founders, Su Zhu and Kyle Davies, make efforts to remain individually distinct. Regardless of this, Zhu was lately discovered to be selling a home he bought in Singapore this past year for around SGD 48.8 million ($34.3 million).

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