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 <p class="paragraph">Three Arrows Capital (3AC) co-founder Su Zhu was arrested on September 29 in Singapore, while “failing to cooperate” with the authorities, according to a statement from Teneo, reported by global media outlets. The former cryptocurrency hedge fund owner leaves behind on-chain traces within his crypto wallet.</p> 
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 <p class="paragraph">In the context of Zhu’s detention, Finbold recurred to <em>Arkham Intelligence</em>‘s platform to understand the current state of 3AC’s co<a rel="noopener noreferrer nofollow" title="-founder" href="https://thebittimes.com/tag/founder.html">-founder</a> <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> holdings, in order to understand possible financial outcomes from this arrest, and what history the on-chain trails have left behind this arrestment.</p> 
 <p class="paragraph">Notably, Three Arrows Capital was one of the biggest companies affected by the collapse of Terra (LUNA, now LUNC), due to the hedge fund’s high exposure to Do Kwon’s project, who reportedly had a close relationship with Su Zhu.</p> 
 <p class="paragraph">After 3AC’s bankruptcy, Zhu and his partner Kyle Davies launched a new exchange: OPNX. Created to assist investors with their bankruptcy claims for other fallen crypto companies in the bear market of 2022.</p> 
 <h2 class="wp-block-heading" id="h-su-zhu-wallet-uncovered-3ac-s-co-founder-crypto-holdings">Su Zhu wallet uncovered: 3AC’s co-founder crypto holdings</h2> 
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 <p class="paragraph">According to <em>Akrham</em> researchers, the biggest holdings by collated known addresses that belong to Su Zhu are held by 64.094 stETH tokens, for an equivalent of $107,200 by press time. The second largest holdings are kept in 13.238 ETH for an equivalent of $22,130. Other holdings are sub $50, therefore, not relevant.</p> 
 <figure class="wp-block-image size-large"> 
  <img decoding="async" loading="lazy" width="1024" height="536" src="https://cdn.thebittimes.com/images/2023/09/30/5f965a1fa9bf8e97ce979213f629a0a8.webp" alt="Su Zhu crypto wallet portfolio." class="wp-image-130653" srcset="https://cdn.thebittimes.com/images/2023/09/30/5f965a1fa9bf8e97ce979213f629a0a8.webp 1024w, https://cdn.thebittimes.com/images/2023/09/30/5f965a1fa9bf8e97ce979213f629a0a8.webp 300w, https://cdn.thebittimes.com/images/2023/09/30/5f965a1fa9bf8e97ce979213f629a0a8.webp 768w, https://cdn.thebittimes.com/images/2023/09/30/5f965a1fa9bf8e97ce979213f629a0a8.webp 1280w" sizes="(max-width: 1024px) 100vw, 1024px"> 
  <figcaption class="wp-element-caption">
    Su Zhu crypto wallet portfolio. Source: <em>Arkham Intelligence</em> 
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 </figure> 
 <p class="paragraph">The stETH token is a synthetic version of Ethereum (ETH), rewarded to <em>Lido</em> stakers.</p> 
 <p class="paragraph">Interestingly, although 87% of these $129,405 holdings are in the Ethereum Network, a surprising 13% are kept using Coinbase’s layer-2 newly released blockchain, Base.</p> 
 <figure class="wp-block-image size-large"> 
  <img decoding="async" loading="lazy" width="1024" height="536" src="https://cdn.thebittimes.com/images/2023/09/30/8db0fa62f3e0a1114eb427f6b24939a4.webp" alt="Su Zhu crypto holdings by chain." class="wp-image-130654" srcset="https://cdn.thebittimes.com/images/2023/09/30/8db0fa62f3e0a1114eb427f6b24939a4.webp 1024w, https://cdn.thebittimes.com/images/2023/09/30/8db0fa62f3e0a1114eb427f6b24939a4.webp 300w, https://cdn.thebittimes.com/images/2023/09/30/8db0fa62f3e0a1114eb427f6b24939a4.webp 768w, https://cdn.thebittimes.com/images/2023/09/30/8db0fa62f3e0a1114eb427f6b24939a4.webp 1280w" sizes="(max-width: 1024px) 100vw, 1024px"> 
  <figcaption class="wp-element-caption">
    Su Zhu crypto holdings by chain. Source: <em>Arkham Intelligence</em> 
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 </figure> 
 <p class="paragraph">Moreover, despite being arrested, Zhu’s known addresses are receiving undisclosed multiple transactions of around $50 in ETH in the last few hours from Friend Tech’s known <a rel="noopener noreferrer nofollow" title="wallet" href="https://thebittimes.com/tag/wallet.html">wallet</a>s.</p> 
 <figure class="wp-block-image size-large"> 
  <img decoding="async" loading="lazy" width="1024" height="237" src="https://cdn.thebittimes.com/images/2023/09/30/676ca3ae21d20ee133025d716c2dbe0c.webp" alt="Su Zhu known addresses data.
" class="wp-image-130655" srcset="https://cdn.thebittimes.com/images/2023/09/30/676ca3ae21d20ee133025d716c2dbe0c.webp 1024w, https://cdn.thebittimes.com/images/2023/09/30/676ca3ae21d20ee133025d716c2dbe0c.webp 300w, https://cdn.thebittimes.com/images/2023/09/30/676ca3ae21d20ee133025d716c2dbe0c.webp 768w, https://cdn.thebittimes.com/images/2023/09/30/676ca3ae21d20ee133025d716c2dbe0c.webp 1536w, https://cdn.thebittimes.com/images/2023/09/30/676ca3ae21d20ee133025d716c2dbe0c.webp 2048w" sizes="(max-width: 1024px) 100vw, 1024px"> 
  <figcaption class="wp-element-caption">
    Su Zhu known addresses data. Source: <em>Arkham Intelligence</em> 
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 </figure> 
 <p class="paragraph">Also, by looking at the 1,607-day data history, it is possible to see that the 3AC co<a rel="noopener noreferrer nofollow" title="-founder" href="https://thebittimes.com/tag/founder.html">-founder</a> made 62% of all his <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> deposits (usually signaling an intention to sell) on Coinbase, and 15% on Binance. However, 80% of his withdrawals (usually after a purchase was made) came from Binance, and 14% from OKX exchange.</p> 
 <p class="paragraph"> </p> 
</div> 
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/su-zhu-arrested-what-does-3ac-s-co-founder-crypto-wallet-tell-us-tbt64578.html">https://thebittimes.com/su-zhu-arrested-what-does-3ac-s-co-founder-crypto-wallet-tell-us-tbt64578.html</a></p>

Su Zhu Arrested: What does 3AC’s co-founder crypto wallet tell us?

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