3AC Co-founder Files a $5 Million Claim Against His Company 

July 18, 2022

Reading Time: 2 minutes

Footing into this year has seen the crypto community witnessing headlines relating to bankruptcy and liquidation, chaos that may be attributed to “crypto winter”, an event that has been hitting crypto lenders differently.

Voyager, the Three Arrow Capital, as well as Celsius, have frozen transactions since many weeks back following their mismanagement of creditors’ funds, probably because they have poor risk management skills.

States regulators have launched investigations into those lending firms. 3AC among the lending firms has been accused of being suspicious with both founders, Zhu Su and Kyle Davies currently maintaining a low profile.

In the midst of this is where we are witnessing hide and seek by one of the 3AC founders, Zhu Su as his name is reported to be found among the 3AC creditors.

According to a tweet by Soldman Gachs, one of the 3AC creditors, Zhu Su has enlisted his name into the document containing the list of 3AC creditors. A claim ($5 million) that came as a shock to the crypto community.

Also, 3AC limited, the investment manager of the fund, has also filed a claim of $25 million, making it one of the largest 3AC creditors.

The firms in the list of 3AC creditors include DCG, Voyager, Algorand, DeFiance, Celsius, BlockFi, CoinList, SBI Crypto, Moonbeam Network, Galaxy Digital, and BitGo.

The accumulated amount of funds claimed against 3AC so far is $2.6 billion.

However, 3AC creditors have scheduled their meeting for today to address the proceedings, a meeting to be coordinated by Teneo Restructuring, a firm appointed by the British Virgin Islands court.

With Zhu Su being on the list of 3AC creditors, there is every possibility of him being present at the meeting.

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Crypto Community Take a Jab at Zhu

Following the breaking of the report of Zhu’s name being on the list of his company creditors, the community decides to take a jab at Zhu Su, some allege that he is a scammer, while others respond with memes. Although, the report still left many in fear.

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