Alameda wallets actively transfer money
2022.12.29 07:28
Alameda wallets actively transfer money
Budrigannews.com – 30 digital money wallets connected to Alameda Exploration, the bankrupt affiliated business of crypto trade FTX, became dynamic on Dec. 28 following a month of dormancy. Through a variety of crypto-mixing services, these wallets swapped and mixed crypto assets worth more than $1.7 million.
Market opportunists and criminals frequently employ crypto mixers to obscure the transaction path so that the funds cannot be traced back to their original source.
The sudden movement of funds from Alameda wallets just days after Sam Bankman Fried was released on bail, as reported by Cointelegraph on December 28, raised suspicions throughout the crypto community. Nearly a day later, it appears that the person behind these fund transfers carried out extensive planning to conceal the routes of the transactions.
The first transfer of funds began with multiple Alameda addresses exchanging tokens for Ether (ETH) or Tether (USDT) and sending them to crypto mixers, according to Arkham’s data. The majority of these transfers were traced to two primary wallets with the numbers 0xe5D and 0x971 in the beginning.
After being sent to addresses beginning with 0x738, tokens from the Alameda wallet were sent to addresses beginning with 0x64e. The ETH is then split between smaller wallets, typically between $200,000 and $50,000, by this 0x64e wallet. From that point forward, it was shipped off blenders like Fixedfloat and ChangeNOW.
To swap for stablecoins, another wallet was used, and wallet assets were first converted into USDT and sent to Fixedfloat. Mixers were used to exchange 800,000 USDT, and other means were used to funnel another 400,000 USDT. renBTC was used to send 200,000 USDT worth of stablecoins to the Bitcoin network.
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Funds totaling $1.7 million were exchanged and sent via the following mixing services:
- 270.5 ETH through ChangeNOW (~$325k)
- 800,000 USDT through Fixedfloat
- 200,000 USDT through Curve SynthSwap to native Bitcoin (BTC)
- 200,000 USDT through Airswap
- 200,000 USDT through other crypto-mixing services
The cryptocurrency community was abuzz when funds from the Alameda wallet were moved through mixing tools. Some people question the timing of the fund transfers, while others point to the mixing of services and the authorities’ inability to stop it despite the fact that the case is under investigation.
