In a series of transactions, cryptocurrency wallets associated with the now-defunct crypto exchange FTX and its sister trading firm, Alameda Research, have transferred $13.1 million in various altcoins to multiple cryptocurrency exchanges, as reported on November 1.
Data from the on-chain analysis firm Spotonchain reveals that the FTX wallet initiated the transfers, sending $8.12 million worth of altcoins to Coinbase. Notable among the assets transferred were 46.5 million of The Graph’s GRT, valued at $4.85 million, 972,073 Render (RNDR) tokens totaling $2.3 million, and 708.1 Maker tokens with a value of $967,000.
Subsequently, after three hours, the wallet addresses associated with the exchange and Alameda Research conducted another transfer, sending $5.49 million to Binance and Coinbase. The assets with the highest value in this transfer included 1.14 million dYdX (DYDX) tokens, amounting to $2.64 million, 192,888 Axie Infinity tokens valued at $1.05 million, and 5,858 Aave tokens totaling $522,000.
The movement of $13.1 million in crypto funds on November 1 comes after Nansen, a crypto analytic firm, had detected various wallet movements linked to exchange over the previous week. These movements involved deposits of millions of dollars in various cryptocurrencies on different crypto exchanges. Notably, a batch of $8.1 million in altcoins was moved to Binance. Nansen estimated an additional $24.3 million in assets left in wallets associated with Exchange and Alameda, ultimately landing in Binance and Coinbase.
Massive SOL Token Transfers in FTX-Linked Wallets
On October 31, FTX-related wallets transferred 1.6 million of Solana’s SOL tokens valued at $56 million, which had been unstaked, to an undisclosed wallet. Furthermore, another 930,000 SOL tokens worth $32 million and linked to FTX and Alameda were transferred to a separate wallet believed to be connected to Galaxy Digital, the designated firm responsible for overseeing the ongoing liquidation process.
According to MartyParty, Over the past three days, a transfer of 930,000 Solana (SOL) tokens originating from Solana wallets associated with FTX and Alameda Research has been recorded, with the tokens moving to wallet address 5RAHK.
Data aggregated by Spotonchain indicates that $78 million worth of assets have been sent to cryptocurrency exchanges from wallets associated with FTX and Alameda over the past week.
The ongoing transfers from FTX-linked wallets follow a court-ordered phased liquidation process. Under this legal directive, FTX is authorized to sell digital assets valued at over $3 billion in weekly batches, managed by an investment advisor, in compliance with predefined regulations.
Related Reading: FTX Executes $59 Million Crypto Asset Transfer Amidst Legal Battle