The founders of Three Arrows Capital are nowhere to be found, according to a filing by consultancy Teneo, which is expected to sell the remaining assets of the struggling hedge fund. In the wake of a dramatic digital currency selloff, Three Arrows filed for Chapter 15 bankruptcy in the British Virgin Islands in late June.

The move was intended to protect the assets of foreign corporations from American creditors. Co-founded by Kyle Davies and Zhu Su, Three Arrows filed for bankruptcy after failing to repay a $670 million debt owed by cryptocurrency broker Voyager Digital, which also filed for bankruptcy. According to the liquidators’ court filing, Three Arrows had $3 billion in assets at the end of April and $10 billion in cryptocurrency at the beginning of this year.

Court-appointed liquidators who recently visited the company’s office in Singapore claimed the doors were barred and they could not enter. According to the court motion, no one had been at the office since late May or early June, according to neighbors. According to Reuters, there was also a pile of old mail near the entrance. In court filings filed late Friday, an attorney representing the creditors said the 3AC founders “have not yet begun to cooperate in any meaningful way in the proceeding.”

The individuals identified as “Kyle” and “Su Zhu” were present at the initial Zoom conference, but their video and audio were disabled and they were unable to respond to a direct question. Only their lawyers answered questions on their behalf. Concerns are growing that Three Arrows’ assets, primarily cash, cryptocurrencies and NFTs, could be easily transferred. A court in the British Virgin Islands has appointed Christopher Farmer and Russell Crumpler as 3AC’s liquidators, warning that there is an “imminent risk” that Zhu and Davies may try to take over the company’s remaining offshore capital.

According to Fortune, Three Arrows’ Starry Night NFTs have already been transferred to another wallet for unclear reasons. According to Reuters, citing court filings, Zhu is trying to sell a Singapore home worth tens of millions of dollars. A court hearing in New York is scheduled for Tuesday morning.

Featured Image: DepositPhotos @3DSculptor

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