Su Zhu
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anchored·2HhSTd…3FhWSummary
Su Zhu is the co-founder and former CEO of Three Arrows Capital (3AC), a Singapore-based cryptocurrency hedge fund that collapsed in June 2022 with approximately $3.5 billion owed to 27 creditors, triggering cascading bankruptcies at Voyager Digital, Celsius Network, and Genesis Global Trading. Zhu was convicted of contempt of court for failing to cooperate with liquidators, arrested at Singapore's Changi Airport in September 2023 while allegedly attempting to flee, and sentenced to four months in prison. Following his release he became involved in additional ventures including OPNX, a bankruptcy-claims trading exchange that was fined $2.7 million by Dubai's Virtual Assets Regulatory Authority and subsequently shut down in February 2024.
Connected Entities
1 entities- + 11 more
Timeline(21 events)
2012
Su Zhu and Kyle Davies co-found Three Arrows Capital in San Francisco with approximately $1 million borrowed from their parents.
2013
Three Arrows Capital re-registers in Singapore for tax purposes.
February 2022
3AC invests approximately $200 million in LUNA as part of the Luna Foundation Guard's $1 billion capital raise.
March 2022
Three Arrows Capital reaches peak reported assets under management of approximately $10 billion.
12 May 2022
Terra/LUNA ecosystem collapses; LUNA price falls from approximately $80 to near zero, causing catastrophic losses for 3AC.
16 June 2022
3AC fails to meet margin calls from multiple lenders.
22 June 2022
3AC defaults on a $665 million loan from Voyager Digital.
27 June 2022
A British Virgin Islands court orders Three Arrows Capital into liquidation. Teneo Restructuring is appointed as liquidator.
2 July 2022
3AC files for Chapter 15 bankruptcy in the United States to protect US assets from creditors. Court filings reveal $3.5 billion owed to 27 creditors.
12 July 2022
Founders Zhu and Davies are reported missing, having ignored creditor outreach and liquidator contact attempts.
22 July 2022
Zhu and Davies give a media interview from an undisclosed location, describing the fund's collapse as caused by LUNA and GBTC trades.
April 2023
Zhu and Davies launch OPNX, a bankruptcy claims trading exchange, while 3AC liquidation proceedings remain active.
May 2023
Dubai's VARA formally reprimands OPNX and its founders for soliciting customers without proper authorization.
16 August 2023
VARA fines OPNX AED 10 million (~$2.7 million) for violating advertising and marketing regulations; individual fines imposed on Zhu and other founders.
13 September 2023
Singapore's MAS issues nine-year prohibition orders against Zhu and Davies barring them from managing or directing any capital markets services firm in Singapore.
29 September 2023
Su Zhu is arrested at Singapore's Changi Airport while allegedly attempting to leave the country, pursuant to a committal order for contempt of court. Sentenced to four months in prison.
13 December 2023
Su Zhu appears in Singapore court for a two-day hearing, facing questioning from Teneo lawyers about the fund's collapse and asset locations.
21 December 2023
A BVI court freezes more than $1 billion in assets belonging to Zhu, Davies, and Davies' wife Kelly Chen.
14 February 2024
OPNX ceases all operations.
February 2024
OX.FUN launches as a successor meme coin perpetual futures exchange, with Su Zhu listed as an advisor/backer.
12 August 2024
3AC liquidators file a $1.3 billion lawsuit against Terraform Labs over the LUNA/UST collapse that contributed to 3AC's failure.
Decision Log
- hash: BgW5RSmRaRCP3pqsnbJNN2VykzC5SYA5aSyWMph7jkgr
This investigation is cryptographically anchored to the Solana blockchain (1 event). 0 of 27 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 5/30/2026, 6:33:27 PM
last updated: 8/29/2026, 1:34:01 AM
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