A wallet address linked to bankrupt crypto hedge fund Three Arrows Capital (3AC) successfully acquired an NFT on Friday morning, benefiting from a bid placed nearly three years ago that was apparently overlooked by its liquidators.
According to data from NFT marketplace SuperRare, the 3AC wallet placed a bid of 20 ETH ($58,800) for the “Neon Village” NFT from the “Ninja Village” collection by artist SeerLight on August 21, 2021. This bid was accepted on Friday by the previous owner, “@anonymoux,” who had originally purchased it for 100 ETH ($348,700) in October 2021, as confirmed by blockchain explorer Etherscan. Onchain analytics platform Arkham has identified the address as belonging to 3AC, first noted by community member “@0xBriann.”
The management of 3AC’s liquidation, handled by Teneo, seemed to have missed the bid during the bankruptcy proceedings, allowing it to be executed despite the ongoing process.
“[3AC] made an offer on SuperRare and the ETH were put on escrow in the smart contract so they were not seen in the liquidation process as retrievable assets,” explained Jean-Michel Pailhon, CIO of Grail Capital and former Ledger executive.
Earlier this year, Mechanism Capital co-founder Andrew Kang purchased the original Pepe the Frog NFT from the 3AC estate in a private sale facilitated by auction house Sotheby’s, as part of the liquidation of 3AC’s remaining NFT assets at that time.
