Co-Founder of Three Arrows Capital Obtains Restraining Order Against BitMEX Co-Founder
Su Zhu, co-founder of now defunct cryptocurrency hedge fund Three Arrows Capital, has been granted a restraining order by a Singaporean court against Arthur Hayes, the co-founder and former CEO of crypto exchange BitMEX. The order prohibits Hayes from using abusive or insulting communication that would cause Zhu alarm, harassment, or distress.
Hayes Criticizes 3AC Co-Founders’ Attempts to Raise Funds
In recent months, Hayes has repeatedly asked Zhu and his 3AC partner Kyle Davies to repay a $6 million debt resulting from the hedge fund’s collapse last year. Three Arrows Capital faced challenges and was ordered into liquidation by a British Virgin Islands court in June 2022, leaving creditors to collect over $1 billion. Zhu and Davies disappeared after the collapse, only to resurface months later in a Bloomberg interview announcing the launch of OPNX, an exchange for trading bankruptcy claims. Hayes criticized and mocked the co-founders’ attempts to raise funds for their new platform in several tweets and made fun of and criticized some of their statements.
Restraining Order Terms
The restraining order, granted by Harassment Court Judge Sandra Looi Ai Lin, prohibits Hayes from communicating with Zhu via any means or publishing any of his identity information. The BitMEX co-founder is banned from using abusive or threatening words towards Zhu. The order also includes the provision that it can be served to Hayes via his Twitter account.