Several wallets associated with Sam Bankman-Fried’s trading company Alameda Research sprung up a few hours ago, trading various cryptocurrencies.
Martin Lee, a data journalist at Nansen, was among the blockchain sleuths to point out “lots of activity among Alameda wallets” late Tuesday night, with various Ethereum-based tokens clustered in two main portfolioswhich were then exchanged for Ethereum (ETH) and Tether (USDT).
The transactions in question included 3,263 Convex Finance (CVX) tokens worth $11,390 sent from Convex Finance to an Alameda Research wallet.
These funds were then sent to awallet, along with 74,112 CRV, equivalent to $39,152, again sent from Alameda Research to a MetaMask wallet.
A third transfer of 45.6 ETH worth $55,219 was sent to an unknown address, with the funds then sent to instant exchange services ChangeNow and FixedFloat.
“The transactions seem strange to me. Consolidation makes sense, but once the consolidation is done, funds are sent to new wallets before being sent to ChangeNow/FixedFloat,” added Lee.
The OXT research firm also note that the way the funds were exchanged “sounds major alarm bells”.
Chain Detective ZachXBT Further revealed that the funds had been exchanged for Bitcoin (BTC)
Who is behind the Alameda transactions?
Commenting on suggestions that the transfers may have been initiated by FTX liquidators, ZachXBT looked skepticalsaying they are unlikely to use services such as FixedFloat or ChangeNow.
While it is currently unclear who is responsible for these transactions, the timing comes just days after FTX founder Bankman-Fried, also known as SBF, was released on bail under a $250 million bond deal.
The disgraced crypto mogul now awaits trial under house arrest in his parents’ Palo Alto, California, home, with electronic location monitoring, as well as restrictions on spending, business activities and weapons. fire imposed by law. release conditions.
The court document does not mention Internet access restrictions for SBF.
SBF, which allegedly committed fraud by using client funds to place bets through its trading house Alameda Research, faces a total of eight criminal charges after having been arrested in the Bahamas earlier this month.