Su Zhu, the Founder of Three Arrows, Obtained a Singapore Restraining Order Against Arthur Hayes Due to ‘Harassment’

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Last Updated on May 10, 2023 by Bitfinsider

A Singapore court has issued a restraining order against Arthur Hayes, a co-founder of the BitMEX trading platform, on behalf of Su Zhu, a co-founder of the now-defunct cryptocurrency hedge fund Three Arrows Capital (3AC).

In the May 5 order, Hayes is forbidden from using “threatening, abusive, or insulting words” and “making any threatening, abusive, or insulting communication, that would cause the Applicant harassment, alarm, or distress.”

In his tweets to Zhu and his 3AC partner Kyle Davies, the former BitMEX CEO is primarily demanding $6 million that he claims is due as a result of the fund’s demise last year.

According to Sandra Looi Ai Lin, the judge presiding over the harassment court’s decision, Hayes is not permitted to contact Zhu “by any means” and is forbidden from disclosing “any identity information.” The order stated that Hayes may receive the decision via his Twitter account.

Hayes and Zhu are now divisive personalities in the cryptocurrency world. Zhu, who evaded a prison sentence with six months of home detention after pleading guilty to U.S. federal allegations that he failed to implement anti-money laundering (AML) checks at his exchange in February 2022, and Hayes, whose 3AC collapse sent shockwaves across the sector.

According to court documents, 3AC owes more than $1 billion in individual claims. A platform called OPNX, developed by Zhu and Davies in the interim, allows investors to exchange bankruptcy claims for failed companies like FTX and CoinFLEX. After 3AC failed, the two disappeared, reappearing in July (which Hayes mocked on Twitter) and calling the fund’s collapse “regrettable.”

Hayes has attacked the two’s efforts to earn money for their new platform through tweets. In one from April 6, he claimed to have learned that Zhu and Davies had received “big money” from a Bahraini sovereign wealth fund. “Be warned,” It read, “I want my f money.

Meanwhile, Hayes launched his own cryptocurrency fund called Maelstrom.

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