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Nansen Unmasks The Identity and Blockchain Data of a Three Arrow Capital (3AC) Victim

Finance

thecryptobasic.com 30 July 2022 11:55, UTC
  
Reading time: ~2 m

More details have continued to be unveiled in the aftermath of the Three Arrow Capital (3AC) collapse. 

According to a report published by blockchain analytic firm Nansen, the identity of a notorious whale, who also suffered significant losses in the Three Arrow Capital fall has been revealed. 

Nansen’s weekly alpha leak newsletter, The Map and The Territory, is now live for non-subscribers!

Last Sunday we used 3AC court documents to uncover the identity of a notorious whale wallet, 69secrets.eth

Check it out here: https://t.co/Gxer76VVzT

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— Nansen🧭 (@nansen_ai) July 29, 2022

Mirana Corp address (0x738505fa491c972a196582176685fc790d2bdda5) was included in the list of jilted 3AC creditors. The address, which belongs to Mirana Ventures, lost $13 million in the unfortunate 3AC collapse. 

Details of the “Notorious” Whale

Nansen noted that its attention was drawn to Mirana because the company’s website listed some familiar names as investments, including BitDAO. 

Mirana also filed legal proceedings against 3AC in a Singapore Court. Although Mirana’s website looks scanty, Nansen uncovered eye-catching information about the company’s network. 

While Mirana’s current balance looks low, blockchain data shows that huge sums of Ethereum (ETH) have flowed out of the address in recent weeks. 

The top recipient of Miranda’s outgoing fund is a big DEX trader who has received over 61,000 ETH since the address was created. 

Interestingly, the heavy DEX is a counterparty to 69secrets.eth. 69secrets.eth is known as a protagonist in some of the biggest cryptocurrency farms, and rugs, over the past year. 

“Note that the chain of counterparties here isn’t ironclad, but it’s pretty close – hundreds of millions in ETH and stables flowed between these addresses without any clear “swaps,” indicating it’s not OTC activity or similar,” Nansen stated in its report, adding:  

“I think it’s a fair guess that all three are owned by Mirana and that many of the other counterparties are worth a look as well to get a clearer picture of their holdings, which I’d estimate are worth at least half a billion.” 

Three Arrow Capital’s Collapse

3AC is one of the cryptocurrency hedge funds that went bankrupt this year. The company, which at one point declared managing over $10 billion in cryptos, is considered to have crashed due to a self-inflicted crisis following an unchecked decision-making process. 

After the company crashed, 3AC’s founders went into hiding, claiming that they were being threatened by investors who suffered huge losses

3AC is facing a series of lawsuits as investors look to get compensated. 


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