Despite being under house arrest and under police surveillance, Sam Bankman-Fried still manages to make headlines. For example, he is now suspected of transferring funds from one of his now defunct companies.
Sam Bankman-Fried, the founder and former CEO of FTX, turned to social media this week to deny his involvement in the strange transfer and exchange of tokens from a wallet associated with Alameda Research.
To counter claims that he had taken money from Alameda’s wallet, he said he was not the one making the transaction.
“I did not and cannot transfer the funds; I no longer have access to them.
Along with its sister company FTX, Alameda Research is a cryptocurrency trading company that rose in November.
There is no me. I do not and cannot transfer any of these funds; I no longer have access.https://t.co/5Gkin30Ny5
— SBF (@SBF_FTX) December 30, 2022
Is Sam Bankman-Fried The One Moving The Funds?
A few days after Bankman-Fried was released on a bond of $ 250 million, it was observed that crypto wallets associated with the bankrupt Alameda were moving funds using coin mixers to disguise transactions.
Over the past few days, blockchain researchers have been monitoring the flow of funds that appear to be linked to Sam Bankman-Fried’s digital wallet.
According to data tracker Arkham Intelligence, the transaction amount exceeded $1 million.
This week, more than $1.7 million of cryptocurrency held in wallets associated with Alameda Research was transferred through exchanges and coin mixers.
Reports indicate that wallet addresses starting with 0x64e9 received more than 600 Ether (ETH) from wallets owned by Alameda. On-chain transactional data revealed that part of the funds were exchanged for USDT while the rest was diverted to the mixing service.
Meanwhile, another allegation emerged that Bankman-Fried carried out a new transaction that ended up withdrawing about $700.00 worth of cryptocurrency.
Federal Prosecutors Wanted To Investigate
Bloomberg reports that this unusual transaction has attracted the attention of federal prosecutors in the United States, who plan to start an investigation.
Authorities in the Southern District of New York, which only last month filed criminal charges against Bankman-Fried for its involvement in the collapse of FTX, are trying to find out who handled the assets.
Crypto total market cap at $764 billion on the daily chart | Chart: TradingView.com
Every day, the never-ending controversy of FTX has new changes, and the latest asset transfers to scavenge whatever is left in the cryptocurrency wallet for the public.
Sam Bankman-Fried’s bail conditions prohibit him from conducting financial transactions of more than $1,000 without court permission.
Bloomberg claims that about $372 million in tokens were taken from the exchange hours after FTX filed for bankruptcy on Nov. 11, bankruptcy records state.
Sam Bankman-Fried, known as the “King Of Crypto,” says he has about $100,000 in his bank account, despite previously being described as a billionaire.
He is currently under house arrest at his parents’ home in California with an electronic monitor attached to his ankle.
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Featured image: Euronews