A wallet linked to the now bankrupt Alameda Research became active again on February 7th, transferring millions of original FTX exchange tokens, FTX Tokens (FTT). The activity of the Alameda wallet after FTX filed for bankruptcy has been a big concern for the crypto community, with many questioning the merits of law enforcement agencies and how the wallet was accessed.
The Alameda address ‘brokenfish.eth’ transferred nearly $2 million in FTT tokens from the BentoBox smart contract on Sushiswap. The smart contract is meant to be the central dome for the entire Sushi ecosystem. Former FTX CEO Sam Bankman-Fried has a history with Sushiswap that started in 2020 when he took over the protocol from former top developer Chef Nomi.
Alameda Research Wallet 4 bought more than 1 million FTT (estimated value $2.3 m) in the range of $1.86 – $1.87. In addition to transferring 35,000 FTT to Abracadabra farm produce, they did not see they were transferring funds out of their wallets. The wallet also opened a loan position on Abracadabra, currently renting 73K FTT and $31,000.
Many have linked the movement of funds to the bankruptcy proceedings and believe that the movement of funds was approved by John Ray III, FTX’s court-appointed CEO. Ray III has made no secret of his desire to seize control of the exchange’s assets and its subsidiaries to pay off debts. On January 17, FTX announced that it had found more than $5.5 billion in liquid assets during its investigation, with more than $3 billion due to the top 50 debtors.
Related: Hodlnaut works with potential buyers to sell the firm and FTX claims: Report
This is not the first instance in January when Alameda-related wallets saw the movement of funds, first on February 2, Blockchain security company PeckShield signaled that “Alameda Consolidation” received $13 million in crypto assets from three different wallets.
#PeckShieldAlert ～ $13M of cryptos have been transferred to addresses labeled Alameda consolidation, including ~6M $USDT & 1,545 $ETH ($2.5M) from Bitfinex, ~4.6M $USDC from 0x7889
Confused why Bitfinex transferred ~$8.5M of cryptos to Alameda consolidation address pic.twitter.com/YU8RNcrdxs— PeckShieldAlert (@PeckShieldAlert) February 2, 2023
The first is owned by the world’s largest cryptocurrency exchange, Bitfinex. It sent about 6 million USDT and 1,545 ether (ETH), for a total of $8.5 million. Another unknown person sent about $6 million in USDC to the Alameda Consolidated address.