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ALAMEDA RESEARCH WALLETS REACTIVATE, TRANSFER MILLIONS IN FTX TOKENS, SPARKING
COMMUNITY CONCERN

by Murtuza Merchant

February 8, 2023 1:46 PM | 2 min read



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The crypto community was taken by surprise Tuesday when wallets associated with
the now-bankrupt Alameda Research were once again active, transferring millions
of dollars in FTX (CRYPTO: FTT) tokens.

The source of these funds and how they were accessed has become a major point of
concern, causing many to question the actions of law enforcement agencies,
according to a Cointelegraph report.


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The Alameda wallet address "brokenfish.eth" transferred nearly $2 million in FTT
tokens from the BentoBox smart contract on SushiSwap.

The smart contract, which serves as the central vault for the entire Sushi
ecosystem, was previously overseen by former FTX CEO Sam Bankman-Fried.

The "Alameda Research 4" wallet bought over 1 million FTT, valued at roughly
$2.3 million, in the $1.86 to $1.87 range, and also opened a loan position on
Abracadabra.

This wallet is mortgaging 73,000 FTT and $31,000.

Some believe that the movements of these funds are tied to the ongoing
bankruptcy proceedings and that the court-appointed CEO of FTX, John Ray III,
sanctioned the transactions, the report said. 

Also read: Court Proceedings Reveal FTX Being Advised By This Cyber Security
Company After $600M Hack In November 2022

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Ray III has made it clear that he intends to seize control of the assets of FTX
and its subsidiaries in order to pay off its debts.

FTX announced in January that it discovered over $5.5 billion in liquid assets,
with more than $3 billion owed to its top 50 creditors.



This was not the first time that Alameda-linked wallets made significant
transfers in February.

On Feb. 2, Blockchain security firm PeckShield reported the "Alameda
Consolidation" address had received $13 million in crypto assets from three
different wallets.

One of these wallets belonged to the cryptocurrency exchange Bitfinex and
transferred approximately $8.5 million in Tether (CRYPTO: USDT) and Ether
(CRYPTO: ETH)

The other two unidentified individuals transferred approximately $6 million in
USD Coin (CRYPTO: USDC) to the Alameda Consolidation address.

> #PeckShieldAlert ～$13M worth of cryptos have been transferred to Alameda
> consolidation-labeled address, including ~6M $USDT & 1,545 $ETH ($2.5M) from
> Bitfinex, ~4.6M $USDC from 0x7889
> Wondering why Bitfinex transferred ~$8.5M worth of cryptos to Alameda
> consolidation address pic.twitter.com/YU8RNcrdxs
> 
> — PeckShieldAlert (@PeckShieldAlert) February 2, 2023

Next: Crypto Exchanges Join Forces To Provide Aid To Turkey After Devastating
Earthquakes

Photo via Shutterstock.

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OPTIONS 101: READY TO SHIFT 2023 INTO HIGH GEAR AHEAD OF 2024?

In a market primed for success with halted rate hikes, slowing inflation, and
bullish outlook from big banks, Options Starter is your key to capitalizing on
these opportunities. Unlock market-winning strategies now with Options Starter.
Grab your 90% discount here.

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Posted In: CryptocurrencyNewsTop StoriesMarketsMediaAlameda
ResearchBentoBoxBitfinexChef NomiFTXJohn Ray IIISam Bankman-FriedSushiSwap

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights
reserved.




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