3AC Founder Su Zhu Criticized Amid Restraining Order Controversy

Restraining Order Sparks Controversy

Su Zhu, co-founder of the defunct crypto hedge fund Three Arrows Capital (3AC), faces criticism in light of a restraining order against Arthur Hayes. The order, issued by a Singapore court, restricts Hayes from using threatening or insulting communication towards Zhu. This legal action arises amidst allegations of financial misconduct by Zhu.

Allegations of Betrayal

Mike Dudas, founder of The Block, has publicly condemned Zhu, accusing him of betraying friends and investors by misappropriating 3AC funds under deceptive pretexts. Dudas's criticism highlights Zhu's alleged actions as a breach of trust, emphasizing the severity of his conduct. The accusations paint a grim picture of Zhu severing ties with those he allegedly defrauded.

Public Outcry from Industry Leaders

The controversy has attracted attention from various figures in the crypto industry. Dudas expressed his disdain for Zhu's attempts to portray himself as a victim, considering the serious nature of the accusations. The situation has intensified tensions among former associates of 3AC, with Dudas questioning the integrity of both Zhu and his business partner, Kyle Davies.

Legal and Financial Disputes

The restraining order against Hayes is part of a broader dispute following the collapse of 3AC. Hayes, a former CEO of BitMEX, has been vocal on social media, demanding the repayment of $6 million he claims is owed by Zhu and Davies. This financial turmoil underscores the ongoing legal and personal conflicts within the crypto community.

Conclusion

The unfolding drama around Su Zhu and Arthur Hayes highlights significant issues of trust and accountability in the cryptocurrency sector. As the situation develops, it serves as a stark reminder of the challenges faced by those navigating the volatile landscape of crypto investments.