According to Twitter user @DrSoldmanGachs, a self-proclaimed creditor of troubled Singaporean crypto hedge fund Three Arrows Capital (3AC), the now-defunct entity allegedly owes $2.8 billion in claims, as discovered through a recent 3AC creditors meeting. In addition, the claim amount could be understated, as many have either not made their claim or have not disclosed their claim amounts for reasons of confidentiality.

As told by DrSoldmanGachs, the meeting voted to elect a creditor committee comprising Digital Currency Group, Voyager Digital, Blockchain Access Matrix Port Technologies and CoinList Lend. These five parties above represent approximately 80% of the current level of claims.

3AC assets are believed to be comprised of bank account balances, direct crypto holdings, underlying equity in projects and nonfungible tokens. At the time of publication, it is unclear how much in the fund's equity remains. Last year, the hedge fund reportedly held $6 billion in assets and $3 billion in liabilities.

Via a series of highly-leveraged bullish directional bets with borrowed money from major crypto institutions, 3AC became insolvent amid the ongoing cryptocurrency bear market. Its founders allegedly fled and defaulted on loan payments that were left behind, leading to a major contagion among centralized finance firms tha lent money to 3AC.

Both of 3AC's co-founders, Su Zhu and Kyle Davies, could not be located after the fund's blowup. Ironically, Su Zhu is allegedly claiming $5 million from 3AC, while Chen Kaili Kelly, wife of Kyle Davies, is allegedly claiming $66 million. However, such claims are reportedly quasi-equity and subordinate to the distribution of leftover assets, if any, to creditors.