Ethereum wallet thought to belong to Su Zhu moves nearly $30k

A wallet allegedly belonging to Three Arrows Capital (3AC) co-founder Su Zhu has moved funds for the first time since his arrest months ago.

Etherscan records displayed several incoming and outgoing ERC-20 token transactions to and from an address labeled suzhu.eth on Nov. 29.

How To Get Free Crypto  

One outgoing transaction involved 3.75 million Gearbox (GEAR) tokens worth under $30,000. Suzhu.eth moved those funds into a decentralized exchange called CoW Protocol just minutes after it received those same tokens.

In another outgoing transaction, suzhu.eth moved 1 billion of an ERC-20 token named SUZHU into Uniswap V2. Though the SUZHU token has zero value based on Etherscan data, Uniswap data reported $6,274 in volume for the ETH-SUZHU pair over the 24-hour period ending at 11:00 PM UTC on Nov. 29.

Several other incoming transactions also originated largely but not entirely from Uniswap. Unlike the outgoing transactions, those incoming transactions would not have required authorized access to Su Zhu’s wallet.

No other outgoing funds since arrest

Until now, the most recent outgoing transactions involving Su Zhu’s wallet took place on or before Sept. 21, days prior to his arrest on Sept. 29 in Singapore.

Coinbase Banner  

At that time, Su Zhu was sentenced to four months in prison. It does not appear that Su Zhu has been convicted of any crime. Instead, Three Arrows Capital’s liquidator, Teneo, reportedly obtained a committal order after Su Zhu failed to cooperate, allowing police to arrest and imprison the executive.

Uncertainty around Su Zhu’s current situation means that it is unclear whether the transactions are suspicious. It is possible that Su Zhu is no longer in prison, has internet access in prison, has permitted another individual to access his wallet, or has surrendered control of the wallet following his arrest. He may also have arranged for DeFi platforms to automatically access his wallet.

Though it does not seem that Su Zhu has admitted to owning the wallet, data from Arkham Intelligence indicates that the wallet belongs to Su Zhu.

Go to Source
Author: Mike Dalton

Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

FreeBitcoin Banner  

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

You May Also Like

More From Author

This site uses Akismet to reduce spam. Learn how your comment data is processed.