From $3 BILLION to ZERO in 3 days:
How crypto legend Su Zhu went from mega-mansions to mugshots.
The untold story of crypto's biggest collapse - and the red flags everyone missed: x.com
How crypto legend Su Zhu went from mega-mansions to mugshots.
The untold story of crypto's biggest collapse - and the red flags everyone missed: x.com
Meet Su Zhu:
Singaporean Entrepreneur and Co-founder of crypto hedge fund Three Arrows Capital...
Here's how one crypto legend lost $3 BILLION in just 72 hours: x.com
Singaporean Entrepreneur and Co-founder of crypto hedge fund Three Arrows Capital...
Here's how one crypto legend lost $3 BILLION in just 72 hours: x.com
In 2012, Zhu was just another trader at Deutsche Bank.
By 2021, he controlled billions in crypto assets.
His fund, Three Arrows Capital (3AC), became crypto's most feared trading giant.
But few saw the ticking time bomb underneath...
The secret to his success? x.com
By 2021, he controlled billions in crypto assets.
His fund, Three Arrows Capital (3AC), became crypto's most feared trading giant.
But few saw the ticking time bomb underneath...
The secret to his success? x.com
Borrowed money. Lots of it.
3AC was taking loans from everyone:
• BlockFi
• Voyager
• Genesis
• Anyone who'd lend
Then using that money to borrow... more money.
A financial game of Jenga that would make Wall Street blush.
But here's where it gets wild: x.com
3AC was taking loans from everyone:
• BlockFi
• Voyager
• Genesis
• Anyone who'd lend
Then using that money to borrow... more money.
A financial game of Jenga that would make Wall Street blush.
But here's where it gets wild: x.com
They weren't just gambling with their own money.
3AC was managing funds for:
• Crypto millionaires
• Industry veterans
• Other hedge funds
All while Zhu was tweeting about "SuperCycle" theories and buying rare NFTs worth millions. x.com
3AC was managing funds for:
• Crypto millionaires
• Industry veterans
• Other hedge funds
All while Zhu was tweeting about "SuperCycle" theories and buying rare NFTs worth millions. x.com
The red flags were everywhere:
• Zero risk management
• Extreme leverage
• Zero transparency
But everyone was too busy making money to notice.
Then came the LUNA crash in May 2022.
3AC had bet $500M+ on it. It went to zero in 48 hours.
But that was just the beginning... x.com
• Zero risk management
• Extreme leverage
• Zero transparency
But everyone was too busy making money to notice.
Then came the LUNA crash in May 2022.
3AC had bet $500M+ on it. It went to zero in 48 hours.
But that was just the beginning... x.com
Bitcoin started crashing.
Every crypto asset followed.
3AC's leverage strategy turned lethal:
When you borrow $1B against $2B in crypto... And crypto drops 50%...
You're finished.
Lenders started calling: x.com
Every crypto asset followed.
3AC's leverage strategy turned lethal:
When you borrow $1B against $2B in crypto... And crypto drops 50%...
You're finished.
Lenders started calling: x.com
"Where's our money?"
Zhu's response? Ghost mode.
Disappeared completely.
The damage?
• $3.5B in losses
• Multiple bankruptcies
• Thousands of investors wiped out
But Zhu?
He fled to Dubai, living in luxury while others lost everything.
Until September 2023.... x.com
Zhu's response? Ghost mode.
Disappeared completely.
The damage?
• $3.5B in losses
• Multiple bankruptcies
• Thousands of investors wiped out
But Zhu?
He fled to Dubai, living in luxury while others lost everything.
Until September 2023.... x.com
Caught trying to flee through Singapore's Changi Airport with a fake passport.
Today, Zhu sits in a Singapore jail facing 10 years.
His $50M mansions? Seized.
His rare NFTs? Worthless.
His reputation? Destroyed.
The lesson? x.com
Today, Zhu sits in a Singapore jail facing 10 years.
His $50M mansions? Seized.
His rare NFTs? Worthless.
His reputation? Destroyed.
The lesson? x.com
When someone shows you their genius is built on borrowed money...
Believe them.
Because in crypto, like gravity:
What goes up with leverage must come down with leverage.
Some say Zhu was just unlucky.
But here's the truth: x.com
Believe them.
Because in crypto, like gravity:
What goes up with leverage must come down with leverage.
Some say Zhu was just unlucky.
But here's the truth: x.com
He built a castle of cards and convinced everyone it was made of stone.
Remember: It's not about how much you make.
It's about how much you keep.
And sometimes, the biggest red flag is success that comes too easy. x.com
Remember: It's not about how much you make.
It's about how much you keep.
And sometimes, the biggest red flag is success that comes too easy. x.com
Thanks for reading! If you enjoyed this:
1. Follow me @cryptojourneyrs
2. Repost this thread or share with a friend
I'm a passionate content creator sharing daily insights into #DeFi.
1. Follow me @cryptojourneyrs
2. Repost this thread or share with a friend
I'm a passionate content creator sharing daily insights into #DeFi.
جاري تحميل الاقتراحات...