Su Zhu was arrested at Changi Airport over asset recovery controversy

According to the latest report from Singaporean media Lianhe Zaobao, Three Arrows Capital founder Su Zhu was arrested by the police at Changi Airport in Singapore. The exposure of this incident stems from a significant action in the bankruptcy liquidation process—Teneo, the consulting firm responsible for liquidating Three Arrows Capital, reported Su Zhu’s whereabouts to the Singapore police.

The Liquidation Consultant’s Tracking Actions Reveal Su Zhu’s True Location

According to informed sources, Teneo’s liquidation team has been closely monitoring Su Zhu’s movements in Singapore. They discovered that Su Zhu frequently hosted gatherings at a luxury residence on Yarwood Avenue, inviting executives from various sectors of the crypto industry. These gatherings provided the liquidation team with opportunities to track his whereabouts.

On September 29, the liquidation team observed a vehicle leaving the luxury residence heading to Changi Airport in Singapore, and they suspected Su Zhu might be on board. They immediately reported this to the police. Ultimately, the police successfully intercepted and arrested Su Zhu at the airport.

Partner Kyle Davies Remains Missing, Asset Recovery Faces Difficulties

In contrast, another founder of Three Arrows Capital, Kyle Davies, has yet to be located and remains missing. This situation significantly increases the complexity and difficulty of the liquidation process. The liquidation team initially planned to meet with Su Zhu to obtain detailed information about the assets related to Three Arrows Capital.

It is reported that Teneo’s liquidation team plans to seek judicial permission to visit Changi Prison to meet with Su Zhu, aiming to gather critical intelligence on the distribution and whereabouts of Three Arrows Capital’s assets. If Su Zhu refuses to cooperate or provides false information, the liquidation team may take further legal measures to enforce compliance, including asset freezing and additional legal sanctions.

Deep Impact of the Three Arrows Capital Liquidation Crisis

Su Zhu’s arrest marks a new phase in this major risk event within the crypto industry. The collapse of Three Arrows Capital caused a significant shock to the crypto market in 2023, affecting numerous partner institutions. Now, with Su Zhu’s detention, the liquidation process is progressing step by step, and issues related to responsible parties and asset recovery will gradually come to light.