Singapore-based 3AC owes about $6 million to BitMEX, said one of the people. Another source described the impact on FTX as "tiny" and said Deribit, which counts 3AC among its investors, had only taken a "small" hit.

A BitMEX spokesperson confirmed to The Block that the exchange has liquidated 3AC's positions. They declined to comment on the owed amount but said BitMEX's legal department is in touch with 3AC on the next steps.

Neither 3AC nor its founders Zhu and Davies are yet to issue a public statement on their situation. Several people told The Block that they'd tried to reach them in recent days, without success.

Zhu tweeted earlier this week that "we are in the process of communicating with relevant parties and fully committed to working this out."