5 entries tagged “collapse”.
Co-founder of Three Arrows Capital (3AC), the crypto hedge fund whose 2022 collapse left ~$3.5B in creditor claims. Singapore's MAS banned him for nine years and a court sentenced him to four months for failing to cooperate with liquidators; his whereabouts have been reported as unknown.
Co-founder of the Singapore crypto hedge fund Three Arrows Capital (3AC), which collapsed in 2022 owing creditors ~$3.5B. Singapore's MAS banned him for nine years; he was jailed four months in 2023 for failing to cooperate with liquidators and arrested at Changi Airport.
A partially collateralized stablecoin protocol on Polygon whose share token TITAN collapsed from ~$64 to near zero on June 16, 2021 in what the team called crypto's 'first large-scale bank run.' Its TVL fell from ~$2B; investor Mark Cuban said he was among those hit.
The cross-chain bridge Multichain saw about $130M moved out of its contracts in July 2023 in unexplained 'abnormal' transfers. The team said CEO 'Zhaojun' had been detained by Chinese police in May 2023, taking the protocol's keys with him; Multichain ceased operations.
A Singapore-based crypto hedge fund, once reportedly managing ~$10B, that collapsed in June 2022 amid heavy leverage and the Terra/LUNA crash. A BVI court ordered it liquidated; Singapore's MAS banned founders Su Zhu and Kyle Davies for nine years.
