Cryptocurrency News TheBitTimes.com

3AC co- found er Su Zhu has been placed at Changi Prison in Singapore after the liquidators informed the police he’s heading to the airport. In a bold move by liquidators, Su Zhu, co-founder of Three Arrows Capital, found himself behind bars in Singapore, an outcome of an escalated effort to pinpoint the dissipated assets of the unsuccessful crypto hedge fund. The enforced action came shortly after a Singapore court endorsed a four-month jail sentence due to Zhu’s non-compliance with the fund’s dissolution process. Upon gaining insight on Sept. 29 that Zhu was en route to Changi Airport, liquidators informed the police, according to Bloomberg sources, who wished to remain anonymous due to the private nature of the information. Zhu, renowned for hosting crypto executives at his opulent Yarwood residence, had been under the vigilant watch of the liquidators while in Singapore. Zhu’s detainment transpired at the terminal, following a tip to the police that he might ...

Israel i police have raided a company run by some of the country’s most powerful Crime families that they allege developed software used to defraud crypto investors out of millions of dollars. As reported by ynetnews, the Israel Police National Cyber Crime Unit has been investigating the company for months, and on Monday, officers of Lahav 433 — also known as the ‘Israeli FBI’ — carried out a raid that saw six individuals arrested and dozens more detained for questioning. Israeli police were aided during the operation by the Israel Money Laundering and Terror Financing Prohibition Authority, the Israeli Tax Authority, and German cybercrime specialists. The scam the company is accused of perpetrating worked by luring crypto investors with promises of handsome profits before issuing them login details that would allow them to access their supposed portfolio. However, these ‘profits’ were actually created and controlled by the scammers and once traders atte...