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The Singapore-based crypto hedge fund has filed for Chapter 15 Bankruptcy Protection as per the Financial Times.

Thus, 3AC representatives filed a petition in the U.S. Bankruptcy Court in the Southern District of New York on 1 July, as per court documents.

The country’s central bank reprimanded 3AC for allegedly “providing false information.” Furthermore, the bank has listed multiple allegations against the crypto hedge fund.

BREAKING: Crypto brokerage Voyager Digital has issued a notice of default to Three Arrows Capital (3AC) after the hedge fund failed to make the required payments on its loans of 15,250 #bitcoin and $350 million in USDC.

In a blog post , the institution confirmed this “difficult but necessary decision.” Furthermore, Voyager CEO Stephen Ehrlich made a statement that, “This decision gives us additional time to continue exploring strategic alternatives with various interested parties while preserving the value of the Voyager platform we have built together.