Alameda Wallets functioning again after arrest
2022.12.28 03:15
Alameda Wallets functioning again after arrest
Budrigannews.com – Just a few days after former CEO Sam Bankman Fried was released on a $250 million bond, funds were seen being transferred from the crypto wallets associated with the now-bankrupt trading firm Alameda Research, which is the sister company of FTX.
The exchange of assets from Alameda wallets raised local area interest, yet more than that, the manner by which these assets were moved caught the local area’s eye. It was discovered that the Alameda wallet was exchanging ERC20 bits for ETH/USDT, and then the Ether (ETH) and USDT (USDT) went through instant exchangers and mixers.
For instance, a wallet address beginning with 0x64e9 received over 600 ETH from Alameda-owned wallets. A portion of the transaction was transferred to USDT, and the remainder was sent to ChangeNow.
According to on-chain analyst ZachXBT, the Alameda wallet was eventually exchanging the funds for Bitcoin (BTC) by utilizing decentralized exchanges like FixedFloat and ChangeNow. Hackers and exploiters frequently use these platforms to conceal their transaction routes.
The funds are being swapped for BTC
bc1q67r2dc46ve66pe2qr9smaz5ktzefehugky5sv6
bc1qk4mnz4qkh9vfcm95z6ww9czhzjsknjr8s457mg
bc1qwx3herf245w6k9ljjfgdsngtvjsp3qs6znp8dd
bc1q7p22k0ly0pmy04ermzu76uyylveehu9cusrcnp pic.twitter.com/ueYLjQOalZ— ZachXBT (@zachxbt) December 28, 2022
Every day, there is a new twist in the never-ending FTX story, and the latest transfer of funds to get everything out of those crypto wallets is worrying for the community.
Given Bankman-Fried’s known criminal history now, many speculated that it could be an insider job to take out whatever is left in those wallets. However, many speculated that the pattern in which these funds are being swapped appears to be an exploiter.
The call is coming from inside the house…
— AZcrypt (@ZcryptA) December 28, 2022
Others questioned the terms of his bail and asked why he had internet access. One user asked, “Why did his bail condition include no computer/internet access?” and wrote that the former CEO was “desperately trying to funnel money out.”
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The ongoing fund movements from Alameda wallets coincided with Bankman Fried’s bail, and the exchange wallets were hacked for millions of dollars shortly after FTX filed for bankruptcy on November 11. The $352 million FTX exploit is also the subject of an investigation by the United States Department of Justice immediately following its bankruptcy filing.
