Sounds like they did money laundry using those illiquid NFT. They did it on purpose to move the fund out of 3AC.
Can you elaborate? How will you exactly transfer funds out of the "illiquid" NFT? Also the record will get stamped in the Blockchain ledger, I would think.
guy creates nft. sells it at stupid price to 3ac. wallet is known but owner is anonymously owned by guy. guy runs away with money. With mission impossible music in background, guy rips off mask to reveal he’s 3AC CEO.
It reminds me of the pump and dump schemes used by traders in 1920s before the creation of the SEC. They would sell it back and forth to each other until a stock reached absurd levels and exit with huge profits leaving the public holding the bag.
its detailed in reminiscence of a stock trader. He gets otm call options, and it’s his job to make them in the money.
physical assets (eg bank accounts, landed properties, yachts....) could be traced easily, and are difficult to hide from the creditors I'd think virtual / crypto assets are not traceable, and hence people could hide them from creditors.
there is no conspiracy theories. They literally took money from investors plus took margin loans on top of that and went full degen mode. They bought stupid NFTs and lost the rest on leveraged bets. Investors thought it was a professional trading/investment firm, when it was actually just 2 high-school degen friends.
One of the founders, a Singaporean, is unlocated. who knows, the 3AC founders and loved ones are already in India and are planning to 'die' there. Then they will live a very rich life after that.