Millions of dollars in NFTs have been discovered to be held by the former Luna Whale and Hedge Fund platform "Three Arrows Capital" (3AC), which has been crying bankruptcy since the Terra Luna blockchain crashed down.

The Large Treasury Of NFT

     The NFT monitor "NFTgator" has also published a list of 3AC's NFT holdings, which includes NFTs from various expensive networks including BoredApe Yatch Club, MutantApe Yatch Club, Cryptopunk, etc. All of these are reportedly worth more than $10 million.

Total Estimated Value

     Only a potential market value can be determined because the actual worth of these NFTs is based on Ethereum. For instance, it has 11 NFTs worth a total of about 2638 Ethereum in the Cryptopunk group. This indicates that 3AC still has some reserves at this time, and is not insolvent.

3AC is Under Debt

     The fact that 3AC owes crypto broker Voyager Digital a hugh debt (15,250 Bitcoins and 350 million USDC), and has been issued a default notice by Voyager for failing to make payments on time. But, now this NFT Treasury information has led to a lot of mistrust around the company. (Read Here)

Thoughts

     Whatever happens, 3AC will not be able to pay off Voyager's debt of $650 million or recover the loss of $560 million from the Luna fiasco by selling its NFT treasury. However, if 3AC is found to be hodling additional loot in the future, it may be declared as a scam platform in the crypto community.