Crypto Exodus: FTX and Alameda Shifting $39M to Exchanges in 37 Days Raises Eyebrows
Wallets tied to FTX and Alameda Research transferred $38.8 million, sparking scrutiny and speculation.
In a series of intriguing financial maneuvers, digital wallets connected to the now-defunct FTX exchange and its counterpart, Alameda Research, orchestrated the transfer of over $38.8 million to various cryptocurrency exchanges since the beginning of 2024.
Blockchain analytics firm PeckShield has diligently tracked these transactions, revealing that in February alone, wallets associated with FTX and Alameda moved a substantial $7 million to different exchanges. Notable moves on Feb. 4 included the transfer of $2.6 million in Ether to Coinbase and approximately $1.1 million in Ton (TON) and Fantom to FalconX and Wintermute. Two days later, on Feb. 6, the crypto wallet addresses orchestrated another move, pushing at least $3.3 million in various assets to Coinbase, Coinbase Prime, FalconX, and Binance.
January witnessed significant activity as well, with wallets linked to FTX and Alameda executing transfers totaling at least $35 million. Notable transactions included a $4.1 million transfer in Cronos to Coinbase on Jan. 4, followed by a $2.4 million Ether transfer to Coinbase and a hefty 200 Wrapped BTC (WBTC) transfer worth $9 million to Binance on Jan. 9.
In the latter part of January, FTX and Alameda continued their financial maneuvers with an additional $16.3 million sent to various exchanges. On Jan. 17, addresses linked to the organizations dispatched $8.9 million in Tether Gold (XAUT) to Coinbase and $2.6 million in ETH to Wintermute. Subsequent transfers on Jan. 30 included $2.3 million in ETH to Coinbase, $1.3 million in various altcoins to Binance, and a $1.28 million transfer to GSR Markets.
These financial transactions unfolded against the backdrop of FTX's ongoing restructuring efforts and its commitment to fully reimburse its customers. During a U.S. court hearing on Jan. 31, FTX outlined its restructuring plans, emphasizing a commitment to customer repayment. However, concerns were raised, with critics, including former SEC official John Reed Stark, describing the plan as a "highway robbery of highway robbers" on Feb. 4. The movements of substantial funds from FTX and Alameda wallets to various exchanges have added a layer of intrigue and scrutiny to the unfolding saga.
(Photo Source / Blockonome)
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