According to onchain research, wallets connected to Sam Bankman-Fried, the disgraced co-founder of FTX, transferred a significant number of previously unreported transactions across various blockchains. The transfers were discovered by Conor Grogan, a director at Coinbase, and while most of the transactions took place on Dec. 28, there was some recent activity in the first few days of the new year.
Roughly a week ago on Dec. 28, 2022, onchain investigators discovered that a number of funds linked to FTX and Alameda Research wallets moved while Sam Bankman-Fried, the former CEO of FTX, was on house arrest. Two days after the funds moved, Bankman-Fried tweeted: “None of these are me. I’m not and couldn’t be moving any of those funds; I don’t have access to them anymore.” He was immediately bombarded with questions when he tweeted on Dec. 30. “How is an address that you identified as yours moving funds then?” asked Cobie, a crypto proponent and host of Uponly.
“I believe it is likely the case that various legit legs of FTX have the ability to access these funds; hopefully that’s what’s happening here,” SBF added. “If not, hopefully one steps in soon to do so. I would be happy to help advise regulators on this if any wanted.”
A week after the onchain sleuths discovered the movement of FTX and Alameda-linked addresses, Conor Grogan, a director at Coinbase who frequently tweets about onchain activity, uncovered a large number of SBF-linked tokens that were moved across various blockchains. The movements took place on blockchains such as Polygon, Binance Smart Chain (BSC), Arbitrum, and Avalanche. The addresses saw outbound movements for coins such as MATIC, AVAX, USDC, USDT, BTCB, WBTC, SPELL, PTP, MDX, and more.
“SBF (or someone with access to his wallets) most likely transferred $10s of millions in previously unreported transactions across Avalanche, BSC, Arbitrum, and Polygon blockchains,” Grogan tweeted. There was also recent activity on 1/02 and 1/03 [and] I found a receiving wallet with $30+ million. I went through each address linked to SBF and checked other blockchains. Private keys for ETH work across other EVM chains,” Grogan added.
In addition to Grogan’s tweets, the onchain researcher Ergo tweeted about some FTX-linked bitcoin movements on Jan. 4, 2023. “Likely bankruptcy team activity,” Ergo said. “ETH tx resets WBTC deposit address, different from the FTX/FTXUS sweep … Segregating FTX and Alameda assets? Address holds 502 BTC sourced from Deribit withdrawals.” At the time of writing, after the initial 502 BTC, the address now has a balance of approximately 3,499 BTC.
Furthermore, following Ergo’s tweet, the researcher also shared a tweet that showed funds were sent to a Wasabi wallet. “Bankruptcy team still not disclosing their addresses,” Ergo said. “But more onchain evidence that the instant swapper addresses are not behaving the same as the ‘legit legs of FTX.'”
Do you have an opinion on the mysterious FTX and Alameda-linked token movements? Share your thoughts with us in the comments section below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Ripple CEO: SEC Lawsuit Over XRP 'Has Gone Exceedingly Well'
The CEO of Ripple Labs says that the lawsuit brought by the U.S. Securities and Exchange Commission (SEC) against him and his company over XRP "has gone exceedingly well." He stressed: "This case is important, not just for Ripple, it’s ... read more.
According to onchain research, wallets connected to Sam Bankman-Fried, the disgraced co-founder of FTX, transferred a significant number of previously unreported transactions across various blockchains. The transfers were discovered by Conor Grogan, a director at Coinbase, and while most of the transactions took place on Dec. 28, there was some recent activity in the first few days of the new year.
Roughly a week ago on Dec. 28, 2022, onchain investigators discovered that a number of funds linked to FTX and Alameda Research wallets moved while Sam Bankman-Fried, the former CEO of FTX, was on house arrest. Two days after the funds moved, Bankman-Fried tweeted: “None of these are me. I’m not and couldn’t be moving any of those funds; I don’t have access to them anymore.” He was immediately bombarded with questions when he tweeted on Dec. 30. “How is an address that you identified as yours moving funds then?” asked Cobie, a crypto proponent and host of Uponly.
“I believe it is likely the case that various legit legs of FTX have the ability to access these funds; hopefully that’s what’s happening here,” SBF added. “If not, hopefully one steps in soon to do so. I would be happy to help advise regulators on this if any wanted.”
A week after the onchain sleuths discovered the movement of FTX and Alameda-linked addresses, Conor Grogan, a director at Coinbase who frequently tweets about onchain activity, uncovered a large number of SBF-linked tokens that were moved across various blockchains. The movements took place on blockchains such as Polygon, Binance Smart Chain (BSC), Arbitrum, and Avalanche. The addresses saw outbound movements for coins such as MATIC, AVAX, USDC, USDT, BTCB, WBTC, SPELL, PTP, MDX, and more.
“SBF (or someone with access to his wallets) most likely transferred $10s of millions in previously unreported transactions across Avalanche, BSC, Arbitrum, and Polygon blockchains,” Grogan tweeted. There was also recent activity on 1/02 and 1/03 [and] I found a receiving wallet with $30+ million. I went through each address linked to SBF and checked other blockchains. Private keys for ETH work across other EVM chains,” Grogan added.
In addition to Grogan’s tweets, the onchain researcher Ergo tweeted about some FTX-linked bitcoin movements on Jan. 4, 2023. “Likely bankruptcy team activity,” Ergo said. “ETH tx resets WBTC deposit address, different from the FTX/FTXUS sweep … Segregating FTX and Alameda assets? Address holds 502 BTC sourced from Deribit withdrawals.” At the time of writing, after the initial 502 BTC, the address now has a balance of approximately 3,499 BTC.
Furthermore, following Ergo’s tweet, the researcher also shared a tweet that showed funds were sent to a Wasabi wallet. “Bankruptcy team still not disclosing their addresses,” Ergo said. “But more onchain evidence that the instant swapper addresses are not behaving the same as the ‘legit legs of FTX.'”
Do you have an opinion on the mysterious FTX and Alameda-linked token movements? Share your thoughts with us in the comments section below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Ripple CEO: SEC Lawsuit Over XRP 'Has Gone Exceedingly Well'
The CEO of Ripple Labs says that the lawsuit brought by the U.S. Securities and Exchange Commission (SEC) against him and his company over XRP "has gone exceedingly well." He stressed: "This case is important, not just for Ripple, it’s ... read more.
Dogecoin raced to a multi-week high on Jan. 5, as meme coins rose higher following recent days of consolidation. The coin climbed for a second straight session on Thursday, which comes ahead of Friday’s U.S. nonfarm payrolls numbers. Shiba inu was also in the green, after today’s gains.
Dogecoin (DOGE) rose for a second straight session on Thursday, as the meme coin moved away from a recent spell of consolidation.
Following a low of $0.07181 on Wednesday, DOGE/USD climbed to an intraday peak of $0.07503 earlier today.
The move took the token to its highest point since December 27, when price was in the midst of a prolonged sell-off.
Since then dogecoin bulls seemed to have returned to action, which coincides with traders finally returning from recent Christmas and New Year’s celebrations.
As can be seen from the chart, the rise in price also comes as the 14-day relative strength index (RSI) has marginally broken out of a key resistance zone.
The index is currently tracking at 42.81, which is slightly above a ceiling of 42.00
Another notable gainer on Thursday was fellow meme coin shiba inu (SHIB), which also rose for a back-to-back session.
SHIB/USD surged to a peak of $0.000008531 earlier today, after falling to a bottom at $0.000008171 on Wednesday.
Thursday’s spike in price sent shiba inu to its strongest point since December 18, prior to the holiday season consolidation.
Looking at the chart, today’s move also saw SHIB break out of a recent point of resistance at $0.00000850, with the RSI also following suit.
Price strength surged past its own ceiling at the 50.00 level, and is currently tracking at 51.63.
Despite this sign of bullish sentiment, the next visible ceiling is close, at 53.00, which could lead to earlier bulls opting to secure gains, and close positions.
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Do you expect this rally in meme coins to continue this week? Let us know your thoughts in the comments.
Eliman brings an eclectic point of view to market analysis, he was previously a brokerage director and retail trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Draft Law Regulating Aspects of Crypto Taxation Submitted to Russian Parliament
A bill updating Russia’s tax law to incorporate provisions pertaining to cryptocurrencies has been filed with the State Duma, the lower house of parliament. The legislation is tailored to regulate the taxation of sales and profits in the country’s market ... read more.
Source From : News