Co-Founder of 3AC Su Zhu accuses DCG and FTX of conspiring to attack LUNA and stETH
On January 3, Co-founder of Three Arrows Capital (3AC) Su Zhu criticized that DCG and FTX plotted to attack LUNA and stETH on his Twitter page. However, Su Zhu was immediately criticized by the crypto community for blaming others and not taking responsibility.
Su Zhu criticizes DCG and FTX for plotting to attack LUNA and stETH
In the context of the increasingly tense battle between the CEO of DCG Cryptocurrency Group and the Co-Founders of Gemini exchange, on January 3, 3AC CEO - Su Zhu created a new owner. discussion topic on Twitter. Here, Zhu accuses DCG and FTX of collaborating to attack and lead to the downfall of LUNA and stETH. Zhu claimed that the venture capital firm teamed up with the FTX exchange to attack Terra Classic and make a profit by doing it. The founder of 3AC also said that instead of restructuring from the loss caused by 3AC breaking the floor, DCG created a debenture to fill these holes.
Zhu accused DCG of cheating on 3AC for months, DCG used various methods to attack 3AC, and no one questioned how Genesis filled the holes.
In addition, Zhu also believes that DCG and FTX have gone in the wrong direction and used various methods to attack 3AC. Essentially, Zhu alleges that DCG and FTX took advantage of 3AC's collapse to get more deposits while insolvent. Zhu also mentioned stETH degeg in his post.
Currently, 3AC's bankruptcy process is difficult because the founders may be in Indonesia or the United Arab Emirates, where it can be difficult to enforce a court order. Lawyers representing the liquidator claimed that the founders of 3AC did not coordinate with the liquidator for several months despite agreeing on a way of communication.
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