The cryptocurrency wallets associated with the trading company Alameda Researchsister of FTX and now bankrupt, were seen transferring funds just days after former CEO Sam Bankman Fried was released on $250 million bail.
The transfer of funds from the Alameda wallets aroused the curiosity of the community, but more than that, the way in which these funds were transferred drew attention. The Alameda wallet was found to have been exchanging ERC-20 shards for Ether (ETH)/Tether (USDT, and then the ETH and USDT were funneled through instant exchangers and mixers.
For example, a wallet address starting with 0x64e9 received more than 600 ETH from wallets belonging to Alamedapart of that was exchanged to USDT while the other part of the transaction was sent to ChangeNow.
On-chain analyst ZachXBT noted that Alameda’s wallet was finally exchanging the funds for bitcoin (BTC) using decentralized exchanges like FixedFloat and ChangeNow. These platforms are often used by hackers and exploiters to hide their transaction routes.
The funds are being swapped for BTC
bc1q67r2dc46ve66pe2qr9smaz5ktzefehugky5sv6
bc1qk4mnz4qkh9vfcm95z6ww9czhzjsknjr8s457mg
bc1qwx3herf245w6k9ljjfgdsngtvjsp3qs6znp8dd
bc1q7p22k0ly0pmy04ermzu76uyylveehu9cusrcnp pic.twitter.com/ueYLjQOalZ— ZachXBT (@zachxbt) December 28, 2022
The endless saga of FTX sees a new twist every day, and the latest transfer of funds to get what’s left in those cryptocurrency wallets is worrying for the community.
Many speculated that the pattern in which these funds are being exchanged seems exploitative, but Given Bankman-Fried’s now-known criminal past, many speculated it could be an inside job to get what’s left in those purses..
The call is coming from inside the house…
—AZcrypt (@ZcryptA) December 28, 2022
The move suggests that it is something that comes from home …
Others they questioned the conditions of the bail and asked why he was given access to the Internet. An user wrote that the former CEO was “desperately trying to channel how to get money out”, adding: “why did your bail condition include no computer/internet access?”
The continuous movements of funds from the Alameda purses coincided with the deposit of Bankman Fried and just after FTX filed for bankruptcy on November 11, the exchange’s wallets were hacked for millions of dollars. The US Department of Justice is currently investigating the $352 million FTX exploit just after its bankruptcy filing as well..
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