Things aren't looking good for Three Arrows Capital as the two founders begin to show clear signs that they may be considered 'flight risk'. In fact, it looks like they may have already fled.

The Singapore-based crypto hedge had to file for bankruptcy after defaulting on a major loan ($660+ mln) and the liquidation process is being handled by Teneo, a global consulting company. So what happened?

First there was a Zoom call during which both founders were on mute and with no video while their legal team(s) interacted with Teneo.

This was of course a bit suspicious and that's when a senior director at Teneo decided to try and physically locate them but couldn't. Both apartments are locked and they say there's a ton of unopened mail at the door.

This looks bad.

Teneo filed a report and concluded that, duh, there's an "imminent risk" of flight. But it's not just the founders themselves, it is the cash they have access to, more to the point, that could very quickly disappear.