The founders of tainted cryptocurrency hedge fund Three Arrow Capital (3AC), which filed for bankruptcy in the first week of July, have finally resurfaced after five weeks of unknown whereabouts.

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In an interview with bloomberg, Su Zhu and Kyle Davis, the two founders of a cryptocurrency hedge fund, have admitted that the overconfidence generated by a years-long bull market in which lenders saw their value soar by funding firms like their own led to a series of bad decisions that should have been managed to avoid.

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Zhu also talked about his closeness with Terra founder Do Kwon and stated that they believe the firm is going to do big things. He acknowledged that the firm’s proximity to Terra caused them to overlook some red flags regarding the firm, which ultimately led to their $500 million investment being wiped out. Zhu explained:

“If we could see it, you know it looked like a potential attack in a way now, and that it grew too, you know, too big, too fast.”

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The two founders said the investment in LUNA (now known as Luna Classic LUNAC) was certainly a setback for the firm. However, the real problem began when Bitcoin (BTC) fell below $20,000 and the firm became unable to access additional loans. Zhu stated that even after the collapse of LUNA, things continued as usual and explained:

“Throughout this period, we continued to work as usual. But then, yes, after the day when, you know, bitcoin went from $30,000 to $20,000, you know, it was very painful for us. And it was, it became a kind of nail in the coffin.”

When asked about their whereabouts and why they were hiding, the founders blamed a series of death threats as the reason for going underground. The duo did not reveal their current whereabouts, but said they were moving to Dubai.

The founders denied any allegations of cash withdrawal before 3AC went bankrupt and also cleared up the $50 million yacht that was exposed in a recently filed court case. Zhu said the boat “was purchased over a year ago and commissioned to be built and used in Europe,” adding that the yacht “has a full cash footprint.”