One of 3AC’s exchange addresses showed a $1 million transaction in Ethereum, which raised suspicions of hidden funds across wallets and exchanges. The fund, which went bankrupt after Luna and its UST collapsed, alleged that they had no significant funds to repay their $3.5 billion debt.
Both co-founders Su Zhu and Kyle Davies are considered to be on the run since the fall of their investment fund. Their location has yet to be determined. Some say they might be hiding in Dubai, long considered to be a good place to lay low, although history has proved otherwise. The United Arab Emirates signed extradition treaties with 37 countries, including the United States and Singapore.