According to information provided by blockchain security firm PeckShield, troubled cryptocurrency hedge fund Three Arrows Capital has transferred tens of millions of dollars’ worth of Tether (USDT) and USD Coin (USDC) stablecoins to cryptocurrency exchange KuCoin.
A few days after Three Arrows Capital filed for Chapter 15 bankruptcy protection, there have been recent transfers.
The bankrupt hedge fund was recently censured by Singapore’s financial watchdog, the Monetary Authority of Singapore (MAS), for giving false information regarding the firm’s assets. Additionally, Three Arrows Capital was charged with failing to inform the MAS of changes to its shareholding composition.
One of the biggest victims of the market turbulence was one of the most well-known crypto hedge funds, which at its peak had more than $10 billion in assets under management.
A British Virgin Islands-based court mandated the dissolution of Three Arrows Capital
The collapse of the market that followed the breakdown of the Terra ecosystem severely hurt the hedge fund.
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