Singapore law firms Advocatus Law, Solitaire LLP, WongPartnership, along with Latham & Watkins and offshore firm Ogier are advising on the downfall of cryptocurrency-focused hedge fund Three Arrows Capital Ltd (3AC).

Until April this year, 3AC, which was established in 2012, had roughly $3 billion in assets under management. Its downfall was triggered in part by the collapse of algorithmic stablecoin, TerraUSD, and its sister token Luna in May.