As liquidity issues surround Digital Currency Group (DCG), Three Arrows Capital (3AC) founder Su Zhu created a Twitter thread containing accusations against DCG and FTX. However, the founder was immediately called out by the crypto community for blaming others and not taking responsibility.
In the thread, Zhu allegedly that DCG had a role in the collapse of LUNA, now called Terra Classic (LUNC). Zhu claimed that the venture capital firm conspired with the FTX exchange to attack LUNC and profited by doing so. The founder of 3AC also said that instead of restructuring from the losses caused by the bankruptcy of 3AC, DCG “magically filled the hole.”
Despite Zhu’s efforts to destroy DCG and FTX, the public believes that he should focus on his own evil deeds.
So it’s someone else’s fault and you’re not personally responsible for your actions?
— DeFi Alex (@swaggyAlexyo) January 3, 2023
Daily Gwei host and Ether bull Anthony Sassano also called out Zhu on Twitter. Sassano used sarcasm, said that everyone behind the collapse of 3AC except Zhu and co-founder Kyle Davis. “They were innocent parties who were simply forced into a highly profitable trading strategy,” he wrote.
Meanwhile, the bankruptcy process 3AC faces difficulties because the founder can be located in Indonesia and the United Arab Emirates, where it can be difficult to implement court orders. Lawyers representing the liquidators said the 3AC founders had failed to coordinate with the liquidators over the past few months despite agreeing to a communication protocol.
related: 3AC subpoenas were issued as the dispute grew over Terraform’s dumping claims
On December 2, the legal team for the liquidator also cited the founders of 3AC for speaking to the media and being active on social media while failing to participate. The legal team claimed that the founders had only limited discussions with the liquidators and often changed jurisdictions.