Wallet belonging to Su Zhu, co-founder of 3AC, allegedly transferred funds for the first time since being arrested several months ago. Etherscan records show that on November 29th, there were several incoming and outgoing ERC-20 token transactions marked as suzhu.eth.

One outgoing transaction involved 3.75 million GEAR tokens worth less than $30,000. Shortly after receiving these tokens, Suzhu.eth transferred the funds to a decentralized exchange called CoW Protocol.

In another outgoing transaction, suzhu.eth transferred 1 billion ERC-20 tokens named SUZHU to Uniswap V2. Despite SUZHU tokens having a value of zero according to Etherscan data, Uniswap data shows that within 24 hours as of 11:00 PM UTC on November 29th, the trading volume of the ETH-SUZHU currency pair was $6,274. Other incoming transactions mainly, but not entirely, came from Uniswap. Unlike the outgoing transactions, these incoming transactions did not require authorization to access Su Zhu's wallet.