Month: September 2023
WHO says flu vaccines should ditch strain that vanished during COVID
Influenza viruses in the B/Yamagata lineage have not been seen since March 2020.
The World Health Organization on Friday recommended ditching a common component of seasonal influenza vaccines that protects against a particular strain of the virus—because that strain appears to no longer exist.
Influenza viruses in the B/Yamagata lineage have not been detected since March 2020, when the pandemic coronavirus, SARS-CoV-2, was mushrooming around the world. SARS-CoV-2’s explosive viral transmission and the health restrictions that followed drastically disrupted the spread and cycles of other infectious diseases, with seasonal flu being no exception.
The 2020-2021 flu season was virtually nonexistent, and the genetic diversity of circulating flu strains dramatically collapsed. But the B/Yamagata lineage looks to have taken the hardest hit. While other strains rebounded in the years since, causing an early and fierce 2022-2023 season in the US, B/Yamagata remains missing globally, appearing extinct.
Norway Wants Facebook Behavioral Advertising Banned Across Europe
Jude Karabus writes via The Register: Norway has told the European Data Protection Board (EDPB) it believes a countrywide ban on Meta harvesting user data to serve up advertising on Facebook and Instagram should be made permanent and extended across Europe. The Scandinavian country’s Data Protection Authority, Datatilsynet, had been holding back Facebook parent Meta from scooping up data on its citizens with the threat of fines of one million Kroner (about $94,000) per day if it didn’t comply.
In August, it said Meta hadn’t been playing ball and started serving up the daily fines. However, the ban that resulted in these fines, put into place in July, expires on November 3 â” hence Norway’s request for a “binding decision.” The July order came after a Court of Justice of the European Union (CJEU) ruling [PDF] earlier that month stating Meta’s data processing operation was also hauling in protected data â” race and ethnicity, religious affiliation, sexual orientation etc. â” when it cast its behavioral ads net.
Norway is not a member of the EU but is part of the European single market, and the CJEU, as Europe’s top court, has the job of making sure the application and interpretation of law within the market is compliant with European treaties (this part would apply to Norway) as well as ensuring that legislation adopted by the EU is applied the same way across all Member States. Datatilsynet’s ruling said the central processing of that data by the American company was putting Meta in violation of the EU’s General Data Protection Regulation. A spokesperson for Meta said it was “surprised” by the Norwegian authority’s actions, “given that Meta has already committed to moving to the legal basis of consent for advertising in the EU/EEA.”
It added: “We remain in active discussions with the relevant data protection authorities on this topic via our lead regulator in the EU, the Irish Data Protection Commission, and will have more to share in due course.”
Read more of this story at Slashdot.
Jude Karabus writes via The Register: Norway has told the European Data Protection Board (EDPB) it believes a countrywide ban on Meta harvesting user data to serve up advertising on Facebook and Instagram should be made permanent and extended across Europe. The Scandinavian country’s Data Protection Authority, Datatilsynet, had been holding back Facebook parent Meta from scooping up data on its citizens with the threat of fines of one million Kroner (about $94,000) per day if it didn’t comply.
In August, it said Meta hadn’t been playing ball and started serving up the daily fines. However, the ban that resulted in these fines, put into place in July, expires on November 3 â” hence Norway’s request for a “binding decision.” The July order came after a Court of Justice of the European Union (CJEU) ruling [PDF] earlier that month stating Meta’s data processing operation was also hauling in protected data â” race and ethnicity, religious affiliation, sexual orientation etc. â” when it cast its behavioral ads net.
Norway is not a member of the EU but is part of the European single market, and the CJEU, as Europe’s top court, has the job of making sure the application and interpretation of law within the market is compliant with European treaties (this part would apply to Norway) as well as ensuring that legislation adopted by the EU is applied the same way across all Member States. Datatilsynet’s ruling said the central processing of that data by the American company was putting Meta in violation of the EU’s General Data Protection Regulation. A spokesperson for Meta said it was “surprised” by the Norwegian authority’s actions, “given that Meta has already committed to moving to the legal basis of consent for advertising in the EU/EEA.”
It added: “We remain in active discussions with the relevant data protection authorities on this topic via our lead regulator in the EU, the Irish Data Protection Commission, and will have more to share in due course.”
Read more of this story at Slashdot.
X’s privacy policy confirms it will use public data to train AI models
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iCloud gets a makeover with a revamped look and quality-of-life upgrades
An iCloud update has added new tools to the quick-glance widgets and it’s now easier to control information.
Following updates to iOS, iPadOS, and macOS, it’s now iCloud’s turn as Apple is redesigning the website as well as introducing a variety of new features.
It’s not a complete overhaul for iCloud mind you, as the quick-glance widgets from last year’s update are still here. The difference this time is users will be able to do more with them. You can now “customize what you see in Tiles”, from choosing a specific folder from the Notes app on your iPhone to picking out your favorite photographs. It’s even possible to have multiple layouts of the same tile displayed on the front page.
(Image credit: Future)
Quality-of-life changes
Next, Quick Actions are being added, allowing you mark reminders as complete or flag a particular email among other things. You can perform these by hovering over your files on iCloud then selecting the three dots that appear to reveal the menu. Apple states “on a touch device” just swipe left. Also, if you’re a PC user, you’re now able to receive Mail and Calendar notifications for incoming emails or event invitations.
Everything described so far has been for the homepage. You see more once you start delving into each of iCloud’s tools.
Most of the changes are nice quality-of-life upgrades that make your life a bit easier. For iCloud Mail, you’re now able to attach files to messages directly from your storage and you can unsend recently sent emails before they reach the recipient’s inbox.
The Calendar isn’t changing much, but it is getting Identity Control for hiding the email addresses “others see in event invitations”. Additionally, Apple is letting people use their Custom Email Domain to combine their “Calendar and Mail identities” into one.
New image tools
For Photos, you get two new ways to enjoy your pictures. There’s the Memories tool that’ll go through your images in a full-screen view, similar to what Google Photos has on its platform. And you have Slideshow, which, as the name suggests, lets you view a selection of images in a slideshow format.
Finally, Notes is receiving several changes. The more notable two are Shared Folder for collaborating with others on a specific file of notes and Enhanced Search. The latter lets you narrow search results “against categories like shared notes” or tags.
That’s pretty much it for the major upgrades. The update is currently live. All you have to do is sign in, and iCloud will then take you through a brief tour of the revamped layout.
If you’re looking for another service to save important files, we recommend checking out TechRadar’s list of the best cloud storage for 2023.
You might also like
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CarPlay Not Working for Some iPhone 15 Users, Possibly Because of USB-C Cables
CarPlay is not working as expected for some iPhone 15 users, an issue that is likely linked to the transition to USB-C. There are multiple complaints from MacRumors readers and Reddit users who are unable to get CarPlay to work with their new devices.
Cable type and available port options are a common theme in the CarPlay reports, with many of the functionality problems linked to USB-A to USB-C cables. Many cars, even some that are more recent, have only USB-A ports and not USB-C ports, so a USB-A to USB-C cable is required.
Unfortunately, it appears that not all USB-A to USB-C cables on the market will work, and some that work in certain vehicles will not work in others. A Reddit user explains:I got in my car this morning and plugged my phone in with a USB-A to USB-C cord in order to use Carplay, and found it does not connect. It charges, but no Carplay. In my Carplay settings on my phone, it says the name of my car as if it were connected, but nothing shows up on the screen.
I work at a dealership so I tried it in a bunch of different cars and nothing worked. My car doesn’t have any USB-C ports, so I tried the Apple-supplied C to C cable in a 2023 model and it worked no problem. So it seems that either USB-A to USB-C does not allow Carplay, or it simply does not work anymore with non-Apple chargers.Other CarPlay users chimed in and mentioned having the same problems, though some were able to get CarPlay to work with USB-A to USB-C cables like those from Belkin. Several people had success getting CarPlay working with a USB-A port using Belkin’s BoostCharge USB-A to USB-C cable, but others had no luck.Having tried 2 good quality cables I called Apple Support about this. They proceeded through various potential remedies which didn’t work. The call ended with me agreeing to try the cable supplied with the phone, after getting a suitable adaptor. When I got home I tried 4 more cables. 3 of them worked, these being ones from Sony, Samsung and Nintendo (I think). Today I tried the Apple cable + adaptor and that works as well. The good quality cables (3 of) all previously gave me no problems, mainly charging but also a high speed PC to VR headset connection. iPhone to Windows PC connection worked fine with one of them (I could connect to my phone in iTunes). I suspect that there is a specification point that the 3 “good quality” cables have missed. If so, I don’t know if it is the car or the iPhone that is particular about this spec. point!Trying a variety of cables, specifically those from known brands and with data transfer support, seems to be the best way to get CarPlay to work, but it is worth noting that some people have not been able to get iPhone 15 CarPlay to work even with Apple’s adapters and cables. From Reddit:I have the exact same problem. Have tried (and bought) several different high quality cables, nothing works. Been through all the troubleshooting scripts and AppleCare+. Seems like either an iPhone 15 or an iOS 17 problem.One MacRumors reader that contacted us said that the issue had been reported to Apple and that Apple is working on a fix for the problem. Apple could perhaps implement a software update that improves compatibility with some cables, or the company could better explain which USB-C cables will work with the new iPhones.
While most of the complaints have been from car owners who are limited to USB-A connection ports, there are also reports from some who have vehicles with USB-C ports and even some complaints about wireless CarPlay. One MacRumors thread suggests that VPNs may be responsible for some recent connection issues, though turning off a VPN did not work for all users.Oy, I just went to my car to check and am having the same issue. If a VPN is activated when the car starts, the car will not pick up CarPlay at all. If the VPN is disabled, CarPlay starts, then if I turn the VPN back on CarPlay crashes.With the wide range of reports, there appear to be multiple CarPlay issues at the current time. CarPlay users may need to transition to different cables, but Apple may need to release a software update to solve some of the CarPlay problems.
If you’ve had issues with CarPlay on the iPhone 15, let us know in the comments below.Related Roundup: CarPlayRelated Forum: HomePod, HomeKit, CarPlay, Home & Auto TechnologyThis article, “CarPlay Not Working for Some iPhone 15 Users, Possibly Because of USB-C Cables” first appeared on MacRumors.comDiscuss this article in our forums
CarPlay is not working as expected for some iPhone 15 users, an issue that is likely linked to the transition to USB-C. There are multiple complaints from MacRumors readers and Reddit users who are unable to get CarPlay to work with their new devices.
Cable type and available port options are a common theme in the CarPlay reports, with many of the functionality problems linked to USB-A to USB-C cables. Many cars, even some that are more recent, have only USB-A ports and not USB-C ports, so a USB-A to USB-C cable is required.
Unfortunately, it appears that not all USB-A to USB-C cables on the market will work, and some that work in certain vehicles will not work in others. A Reddit user explains:I got in my car this morning and plugged my phone in with a USB-A to USB-C cord in order to use Carplay, and found it does not connect. It charges, but no Carplay. In my Carplay settings on my phone, it says the name of my car as if it were connected, but nothing shows up on the screen.
I work at a dealership so I tried it in a bunch of different cars and nothing worked. My car doesn’t have any USB-C ports, so I tried the Apple-supplied C to C cable in a 2023 model and it worked no problem. So it seems that either USB-A to USB-C does not allow Carplay, or it simply does not work anymore with non-Apple chargers.Other CarPlay users chimed in and mentioned having the same problems, though some were able to get CarPlay to work with USB-A to USB-C cables like those from Belkin. Several people had success getting CarPlay working with a USB-A port using Belkin’s BoostCharge USB-A to USB-C cable, but others had no luck.Having tried 2 good quality cables I called Apple Support about this. They proceeded through various potential remedies which didn’t work. The call ended with me agreeing to try the cable supplied with the phone, after getting a suitable adaptor. When I got home I tried 4 more cables. 3 of them worked, these being ones from Sony, Samsung and Nintendo (I think). Today I tried the Apple cable + adaptor and that works as well. The good quality cables (3 of) all previously gave me no problems, mainly charging but also a high speed PC to VR headset connection. iPhone to Windows PC connection worked fine with one of them (I could connect to my phone in iTunes). I suspect that there is a specification point that the 3 “good quality” cables have missed. If so, I don’t know if it is the car or the iPhone that is particular about this spec. point!Trying a variety of cables, specifically those from known brands and with data transfer support, seems to be the best way to get CarPlay to work, but it is worth noting that some people have not been able to get iPhone 15 CarPlay to work even with Apple’s adapters and cables. From Reddit:I have the exact same problem. Have tried (and bought) several different high quality cables, nothing works. Been through all the troubleshooting scripts and AppleCare+. Seems like either an iPhone 15 or an iOS 17 problem.One MacRumors reader that contacted us said that the issue had been reported to Apple and that Apple is working on a fix for the problem. Apple could perhaps implement a software update that improves compatibility with some cables, or the company could better explain which USB-C cables will work with the new iPhones.
While most of the complaints have been from car owners who are limited to USB-A connection ports, there are also reports from some who have vehicles with USB-C ports and even some complaints about wireless CarPlay. One MacRumors thread suggests that VPNs may be responsible for some recent connection issues, though turning off a VPN did not work for all users.Oy, I just went to my car to check and am having the same issue. If a VPN is activated when the car starts, the car will not pick up CarPlay at all. If the VPN is disabled, CarPlay starts, then if I turn the VPN back on CarPlay crashes.With the wide range of reports, there appear to be multiple CarPlay issues at the current time. CarPlay users may need to transition to different cables, but Apple may need to release a software update to solve some of the CarPlay problems.
If you’ve had issues with CarPlay on the iPhone 15, let us know in the comments below.
This article, “CarPlay Not Working for Some iPhone 15 Users, Possibly Because of USB-C Cables” first appeared on MacRumors.com
Discuss this article in our forums
Why New York and other cities still aren’t prepared for floods
A general view of a flooded street in Williamsburg, New York, United States on September 29th, 2023. | Photo by Fatih Aktas / Anadolu Agency via Getty Images
New York City came to a grinding halt Friday as floods shut down roads and subways and inundated schools in one of the biggest storm-related emergencies since the remnants of Hurricane Ida hit in 2021.
It isn’t a problem that’s unique to New York. Flood risk is rising across the US with worsening weather disasters and growing strain on outdated infrastructure.
“The water has nowhere to go”
What should a flood-proof city look like? The Verge asked Samuel Brody, Director of the Institute for a Disaster Resilient Texas and a professor in the Department of Marine and Coastal Environmental Science at Texas A&M University at Galveston.
This interview has been lightly edited for length and clarity.
Are cities uniquely vulnerable to flooding? And if so, how?
Absolutely. Cities have more impervious surfaces and are sprawling outward with roadways, rooftops, and parking lots. The water has nowhere to go but downstream and sometimes into people’s homes and businesses.
One of the trends we’re seeing nationwide is that flooding is occurring in places that we never thought would be the case, and that’s because of the role the human-built environment plays in exacerbating and sometimes entirely creating these flooding events. Some of that’s playing out in New York City today. If you look in the paper any given week, you’re going to see some kind of flood event in a developed area somewhere in the United States.
So it becomes very important for cities to think about their drainage infrastructure, and not just put appropriate size and effective drainage infrastructure in place, but monitor, maintain, renew, update those systems over time. Historically, in the United States, we’ve done a very bad job of that.
That stood out to me in the report you and other researchers published in 2018 that found that “Many of the urban wastewater and stormwater systems that provide the backbone of urban flood mitigation are in poor condition.” How did that happen?
In Houston, where I live, say the stormwater system was put in place in the 1950s. Well, all the development that’s occurred since then is putting more volume and velocity of water into that system so that the system is just under capacity.
Even the systems that are designed today, they’re only designed for, for example, a five-year storm event. In the United States, the baseline of risk is a 100-year event. A 100-year event is a 1 percent chance, in any given year, that an area will be inundated by floodwaters. That doesn’t mean you get a 100-year storm and then you can feel like you’ll be safe for another 100 years. It just means every year, there’s a 1 percent chance.
New York City and most major cities are underdesigned because it would be so expensive to allow a storm drain system to handle a 100-year event. But that’s what we’re seeing. New York today has gotten about one, possibly two inches of rain an hour. A 100-year storm event in New York City is about 3.5 inches per hour. That’s not even near a 100-year event, yet everyone’s flooding because the storm drain system is old and under capacity. There’s not enough money to keep it up to date and accommodate the expanding development that’s taking place. We’re just starting to see some of the impacts of climate change, which result in many places in more intense episodes of rainfall.
How is flood risk changing with climate change? New York City’s commissioner of the Department of Environmental Protection, Rohit Aggarwala, said in a press conference today, “The sad reality is our climate is changing faster than our infrastructure can respond.”
That may be true, but I would challenge that statement by saying a much quicker, more powerful vector of risk, in that case, is that human development is changing much more quickly than our drainage systems and our infrastructure can accommodate — much more quickly than climate change, which is real, which is fundamental, which is happening.
The human-built environment has been a noted problem for decades. And to ignore that as the major cause of the problem right now, I think, would be missing the total picture. What’s overwhelming our infrastructure right now is more so our development decisions and our overall patterns of human impact on the landscape than it is rising sea level rise, changing rainfall patterns — which is happening, but it’s a much longer, slow variable of influence.
So what would a more flood-proof city look like?
There are four dimensions of what would be a flood-resilient city. The first is avoidance, getting out of the way. It means building higher in some cases; it means pulling away from vulnerable areas or letting remaining ecological infrastructure like naturally occurring wetlands do their job, act as a sponge, and not necessarily pave them over.
The second dimension is to accommodate. There are some places where we want to let it flood. Whether that’s creating areas of retention and detention or that’s, again, letting these naturally occurring wetlands alone. We’re so used to fighting water. Accommodation and about living with water and understanding that in these landscapes, both urban and non-urban, there are places where we want to let it flood.
“We’re so used to fighting water.”
The third component is resistance, which is all about the history of flood management in the United States: fighting the flood. That’s barriers, sea walls, levees, different ways to hold the water back. We know that doing that alone as our main strategy doesn’t work over time. That’s why I’m mentioning that as a third component, not the first.
The last component is communication, telling the story of risk. That’s providing information in a way that’s interpretable and actionable to those decision-makers but also individual residents to have them better understand what their risk will be so that they can take action.
We’re finding that there’s such a lack of awareness and a distortion of communication around floods that people are caught off guard. Even today, in New York City, they’re surprised.
Officials have said this is the wettest day in NYC since Hurricane Ida hit in 2021. Flooding then killed more than a dozen people in basement apartments, many of whom were low-income immigrants. What might make certain pockets of a city more vulnerable than others? And what can be done to fix those disparities?
Basement flooding is a huge problem in Houston, which is the epicenter for urban flooding in the country. Wealthy homes are the ones that are elevated really high and have all kinds of expensive systems in place to withstand floodwaters.
One of the problems with our system in the US of flood risk reduction and management is that it tends to favor wealthy populations. More expensive parcels tend to be less flood-prone. More expensive structures and households have more capacity to deal with flood waters. Lower-income neighborhoods tend to have fewer drainage resources.
That stands in contrast to other countries like the Netherlands, where they put a precedent on protecting the socially vulnerable first. It’s not just income — it’s age, education; those are the populations that need to be protected first.
A general view of a flooded street in Williamsburg, New York, United States on September 29th, 2023. | Photo by Fatih Aktas / Anadolu Agency via Getty Images
New York City came to a grinding halt Friday as floods shut down roads and subways and inundated schools in one of the biggest storm-related emergencies since the remnants of Hurricane Ida hit in 2021.
It isn’t a problem that’s unique to New York. Flood risk is rising across the US with worsening weather disasters and growing strain on outdated infrastructure.
What should a flood-proof city look like? The Verge asked Samuel Brody, Director of the Institute for a Disaster Resilient Texas and a professor in the Department of Marine and Coastal Environmental Science at Texas A&M University at Galveston.
This interview has been lightly edited for length and clarity.
Are cities uniquely vulnerable to flooding? And if so, how?
Absolutely. Cities have more impervious surfaces and are sprawling outward with roadways, rooftops, and parking lots. The water has nowhere to go but downstream and sometimes into people’s homes and businesses.
One of the trends we’re seeing nationwide is that flooding is occurring in places that we never thought would be the case, and that’s because of the role the human-built environment plays in exacerbating and sometimes entirely creating these flooding events. Some of that’s playing out in New York City today. If you look in the paper any given week, you’re going to see some kind of flood event in a developed area somewhere in the United States.
So it becomes very important for cities to think about their drainage infrastructure, and not just put appropriate size and effective drainage infrastructure in place, but monitor, maintain, renew, update those systems over time. Historically, in the United States, we’ve done a very bad job of that.
That stood out to me in the report you and other researchers published in 2018 that found that “Many of the urban wastewater and stormwater systems that provide the backbone of urban flood mitigation are in poor condition.” How did that happen?
In Houston, where I live, say the stormwater system was put in place in the 1950s. Well, all the development that’s occurred since then is putting more volume and velocity of water into that system so that the system is just under capacity.
Even the systems that are designed today, they’re only designed for, for example, a five-year storm event. In the United States, the baseline of risk is a 100-year event. A 100-year event is a 1 percent chance, in any given year, that an area will be inundated by floodwaters. That doesn’t mean you get a 100-year storm and then you can feel like you’ll be safe for another 100 years. It just means every year, there’s a 1 percent chance.
New York City and most major cities are underdesigned because it would be so expensive to allow a storm drain system to handle a 100-year event. But that’s what we’re seeing. New York today has gotten about one, possibly two inches of rain an hour. A 100-year storm event in New York City is about 3.5 inches per hour. That’s not even near a 100-year event, yet everyone’s flooding because the storm drain system is old and under capacity. There’s not enough money to keep it up to date and accommodate the expanding development that’s taking place. We’re just starting to see some of the impacts of climate change, which result in many places in more intense episodes of rainfall.
How is flood risk changing with climate change? New York City’s commissioner of the Department of Environmental Protection, Rohit Aggarwala, said in a press conference today, “The sad reality is our climate is changing faster than our infrastructure can respond.”
That may be true, but I would challenge that statement by saying a much quicker, more powerful vector of risk, in that case, is that human development is changing much more quickly than our drainage systems and our infrastructure can accommodate — much more quickly than climate change, which is real, which is fundamental, which is happening.
The human-built environment has been a noted problem for decades. And to ignore that as the major cause of the problem right now, I think, would be missing the total picture. What’s overwhelming our infrastructure right now is more so our development decisions and our overall patterns of human impact on the landscape than it is rising sea level rise, changing rainfall patterns — which is happening, but it’s a much longer, slow variable of influence.
So what would a more flood-proof city look like?
There are four dimensions of what would be a flood-resilient city. The first is avoidance, getting out of the way. It means building higher in some cases; it means pulling away from vulnerable areas or letting remaining ecological infrastructure like naturally occurring wetlands do their job, act as a sponge, and not necessarily pave them over.
The second dimension is to accommodate. There are some places where we want to let it flood. Whether that’s creating areas of retention and detention or that’s, again, letting these naturally occurring wetlands alone. We’re so used to fighting water. Accommodation and about living with water and understanding that in these landscapes, both urban and non-urban, there are places where we want to let it flood.
The third component is resistance, which is all about the history of flood management in the United States: fighting the flood. That’s barriers, sea walls, levees, different ways to hold the water back. We know that doing that alone as our main strategy doesn’t work over time. That’s why I’m mentioning that as a third component, not the first.
The last component is communication, telling the story of risk. That’s providing information in a way that’s interpretable and actionable to those decision-makers but also individual residents to have them better understand what their risk will be so that they can take action.
We’re finding that there’s such a lack of awareness and a distortion of communication around floods that people are caught off guard. Even today, in New York City, they’re surprised.
Officials have said this is the wettest day in NYC since Hurricane Ida hit in 2021. Flooding then killed more than a dozen people in basement apartments, many of whom were low-income immigrants. What might make certain pockets of a city more vulnerable than others? And what can be done to fix those disparities?
Basement flooding is a huge problem in Houston, which is the epicenter for urban flooding in the country. Wealthy homes are the ones that are elevated really high and have all kinds of expensive systems in place to withstand floodwaters.
One of the problems with our system in the US of flood risk reduction and management is that it tends to favor wealthy populations. More expensive parcels tend to be less flood-prone. More expensive structures and households have more capacity to deal with flood waters. Lower-income neighborhoods tend to have fewer drainage resources.
That stands in contrast to other countries like the Netherlands, where they put a precedent on protecting the socially vulnerable first. It’s not just income — it’s age, education; those are the populations that need to be protected first.
The co-founder of a collapsed crypto hedge fund was arrested in Singapore
Illustration by Alex Castro / The Verge
Su Zhu, the co-founder of the collapsed crypto hedge fund Three Arrows Capital (3AC), was arrested in Singapore on Friday. Zhu was taken into custody while attempting to leave the country from Singapore’s Changi Airport, as reported earlier by Bloomberg.
Teneo, the liquidation firm in charge of liquidating 3AC’s assets, says it received a committal order against Zhu after he failed to comply with a court order that compelled him to cooperate with the liquidation process. That committal order directs Singaporean police to arrest Zhu and hold him in prison for four months. Teneo says it obtained a “similar” committal order for 3AC’s other co-founder, Kyle Davies.
During his time in prison, Teneo says the liquidators will engage with Zhu on “matters relating to 3AC, focusing on the recovery of assets that are either the property of 3AC or that have been acquired using 3AC’s funds.” The firm adds that liquidators “will pursue all opportunities to ensure Mr Zhu complies in full with the court order.”
3AC filed for bankruptcy last July just as the crypto market began to slip. Shortly after its collapse, Teneo reported that it couldn’t find Zhu or Davies. At the time, a representative for the co-founders claimed they were ducking the liquidators over “threats of physical violence.” Earlier this month, Singapore’s central bank banned Zhu and Davies from managing, directing, or becoming a shareholder “of any capital market services firm” for the next nine years.
Illustration by Alex Castro / The Verge
Su Zhu, the co-founder of the collapsed crypto hedge fund Three Arrows Capital (3AC), was arrested in Singapore on Friday. Zhu was taken into custody while attempting to leave the country from Singapore’s Changi Airport, as reported earlier by Bloomberg.
Teneo, the liquidation firm in charge of liquidating 3AC’s assets, says it received a committal order against Zhu after he failed to comply with a court order that compelled him to cooperate with the liquidation process. That committal order directs Singaporean police to arrest Zhu and hold him in prison for four months. Teneo says it obtained a “similar” committal order for 3AC’s other co-founder, Kyle Davies.
During his time in prison, Teneo says the liquidators will engage with Zhu on “matters relating to 3AC, focusing on the recovery of assets that are either the property of 3AC or that have been acquired using 3AC’s funds.” The firm adds that liquidators “will pursue all opportunities to ensure Mr Zhu complies in full with the court order.”
3AC filed for bankruptcy last July just as the crypto market began to slip. Shortly after its collapse, Teneo reported that it couldn’t find Zhu or Davies. At the time, a representative for the co-founders claimed they were ducking the liquidators over “threats of physical violence.” Earlier this month, Singapore’s central bank banned Zhu and Davies from managing, directing, or becoming a shareholder “of any capital market services firm” for the next nine years.