Key Takeaways:
- Alameda wallets have seemed to have been depleted of money.
- Late on Friday, more than $600 million in cryptocurrency vanished from the wallets of the bankrupt cryptocurrency company FTX, with no obvious reason given.
The unexplained flow of money of about $662 million in tokens from Sam Bankman Fried‘s digital asset exchange FTX over the last 24 hours is the new addition in one of the most troubled times for the crypto community.
As per the log data on the block explorer Etherscan as of 5:45 a.m. ET, transactions to the wallet included 9.8 million wrapped XRP (roughly $3.6 million), about 6.8 million in the Render network token (roughly $3.4 million), about 3.4 million in xSUSHI (roughly $5.3 million), and 100 million in BitDAO’s token (roughly $30 million). According to data, 11 million Tether stablecoins were transferred from the cryptocurrency exchange Kucoin. Only about $55 million is the sum of these.
The Solana and Binance Smart Chain tokens, as well as various Ethereum tokens, have left FTX’s official wallets and relocated to decentralised exchanges like 1inch. Both FTX and FTX US seem to be affected.
The transfers occur on the very day that FTX formally filed for Chapter 11 bankruptcy protection after having allegedly lost billions of dollars in user funds. The transactions have not been formally recognized by FTX management.
When Terraform Labs’ sister tokens LUNC (previously LUNA) and UST crashed, Samuel Bankman-trading Fried’s company, Alameda Research, suffered significant losses.
Customers who were still processing the platform’s entry into Chapter 11 deliberations on Friday were then faced with what Ryne Miller, the general counsel of its US arm, outlined as “abnormalities with wallet movements.”
Having followed its bankruptcy proceedings on Friday, Miller noted on Twitter that FTX had started transferring digital assets into cold storage.
The concurrent and advanced hacks of FTX and FTX US have led some in the crypto world to theorise that the cash flows may have been planned by someone close to Bankman-inner Fried . They have done this by pointing out that these hacks are a sign of a possible internal job
A few of the wallets have the names “fucksbf” and “fuckftxandsbf.eth” on them; some think this could be a deliberate attempt to make it seem so as though a hack has occurred.
