Wallets linked to the bankrupt Alameda Research recently sparked concern in the crypto community after transferring millions worth of FTX Tokens on February 7th, according to a report.
The wallets’ activity post-FTX bankruptcy filing has raised questions about the effectiveness of law enforcement agencies and access to these wallets.
An address belonging to Alameda, named “brokenfish.eth”, recently transferred a large amount of FTT tokens, valued at almost $2 million, from the BentoBox smart contract on SushiSwap. The BentoBox contract acts as the main vault for the Sushi platform, and Sam Bankman-Fried, the former CEO of FTX, has a connection to SushiSwap that dates back to 2020.
“Alameda Research 4” wallet, on the other hand, bought over 1 million FTT (worth approximately $2.3 million) in the $1.86-$1.87 range and also opened a loan position on Abracadabra.
However, as per the report, it is widely speculated that the transfer of funds is connected to the ongoing bankruptcy proceedings and sanctioned by John Ray III, who serves as the court-appointed CEO of FTX. Ray III has stated his intention to seize control of the exchange’s assets and its subsidiary companies in order to repay debts.
The Alameda MAPS Token Deployer Wakes Up
Data analyst Arkham also reported that the Alameda MAPS Token Deployer on Ethereum received over $600K worth of tokens from Solana, which were then sent to an FTX holding address for safe storage after the November 11th hack.
Additionally, “Alameda Consolidation” also received $13 million worth of crypto assets from three different wallets on February 2nd. Blockchain security firm PeckShield alerted via a tweet about this transfer.
One of the wallets was owned by crypto exchange Bitfinex and transferred approximately $8.5 million in Tether and Ether. The other two wallets, from unidentified individuals, transferred approximately $6 million in USD Coin to the “Alameda Consolidation” address.
The recent activity of Alameda-linked wallets has once again highlighted the need for stronger regulations in the crypto industry. The crypto community continues to closely monitor these developments and the impact they may have on the future of the industry.