Three Arrows Liquidators Seize $35M

On May 17th, 2021, liquidators for Three Arrows Capital, a now-defunct cryptocurrency hedge fund company, announced that they had seized $35.6 million from the company's bank accounts. This seizure represents a significant step forward in the liquidation process for Three Arrows Capital, which had been the subject of multiple lawsuits and regulatory investigations prior to its collapse.

The liquidation of Three Arrows Capital began in late 2020, after the company's founder, Su Zhu, announced that the firm would be shutting down due to "difficult market conditions." At the time of its closure, Three Arrows Capital was one of the largest cryptocurrency hedge funds in the world, with over $2 billion in assets under management.

Since its closure, the liquidation process for Three Arrows Capital has been ongoing, with liquidators working to recover assets and distribute funds to the company's creditors. The seizure of $35.6 million from Three Arrows Capital's bank accounts is a significant step forward in this process, as it represents a sizable portion of the company's remaining assets.

The seizure of funds from Three Arrows Capital's bank accounts is just one of many challenges facing the company's liquidators. In addition to recovering assets and distributing funds to creditors, the liquidators must also navigate a complex legal landscape, as Three Arrows Capital was the subject of multiple lawsuits and regulatory investigations prior to its closure.

Despite these challenges, the liquidators for Three Arrows Capital remain committed to completing the liquidation process in a timely and efficient manner. With the seizure of $35.6 million from the company's bank accounts, the liquidators have taken a significant step forward in this process, and creditors can expect to receive their fair share of the company's remaining assets in the near future.