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

Nov. 30, 2023

By Mike Dalton

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.

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.

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