Disgraced FTX Co-Founder Accused of Transferring $684,000 in Cryptocurrency While Under House Arrest – Bitcoin News

Disgraced FTX co-founder Sam Bankman-Fried (SBF) may have cashed in $684,000 in crypto assets while under house arrest, according to an analyst on December 29, 2022. If the funds were spent by SBF, it would be against the terms of the release, which state that the former FTX executive is not allowed to spend more than $1,000 without court approval.

The analyst discovered funds linked to SBF and Alameda wallets while the FTX co-founder was under house arrest

Analyst named “Bowtiediguana” on Thursday has been published His Twitter account shows that Sam Bankman-Fried spent $684,000 while under house arrest. According to Bowtiediguana, in August 2020, SBF agreed to temporarily take over decentralized exchange (dex) Sushiswap after anonymous founder Chef Nomi decided to leave. When the agreement was reached, SBF shared a public Ethereum address and Chef Nomi transferred ownership of Sushiswap to SBF’s address.

Disgraced FTX co-founder accused of transferring $684,000 in cryptocurrencies while under house arrest

“After SBF release, his wallet sent all his remaining crypto to a new Ethereum address created an hour ago,” Bowtiediguana tweeted. “Within 3 hours, over 100 new deposits were made to this wallet from various addresses, most of them linked to SBF’s defunct hedge fund Alameda Research.” The analyst continued:

less than [four] hours, 570 [ethereum] About $684,000 was transferred from this new wallet to various destinations. The funds were sent to and through a non-KYC exchange based in the Seychelles to the Bitcoin network [Ren Protocol], a bridge funded by Alameda. Maybe the SEC attorneys would like to report it?

The address in question is the same ethereum address that “received an additional $1 million from 11 wallets labeled as Alameda Research,” Bowtiediguana said. “[Five] Separate transactions of 51 ETH were used to transfer funds to newly created wallets [and] then an exchange located in the Seychelles. [Three] 200K USDT tranches were also sent from the SBF-linked wallet to the Fixedfloat exchange,” the analyst added.

Bowtiediguana’s theme suggests individuality decided to send an email Information about the latest onchain actions to the US Securities and Exchange Commission (SEC). Others tagged the US regulator in a Twitter thread and he said: “You gave @secgov [SBF] 2 long hook sisters. please address this criminal” It is not yet confirmed who actually transferred the funds, but many speculate that it was SBF.

Since SBF’s arrest and subsequent release, funds linked to FTX and Alameda have been moving and transfers have been caught by onchain sleuths. Funds linked to Alameda were transferred two days ago and were reportedly sent to Fixedfloat and Changenow and later converted to BTC. In another case, a wallet labeled Alameda sent 11.37 wrapped bitcoins (WBTC) to a wallet after withdrawing it from Aave on December 29.

On the same day, another wallet labeled Alameda sent 22,500 USDC on December 29. Both of these transactions occurred a day after a large portion of Alameda-related ERC20 tokens were transferred on Wednesday, December 28.

Tags in this story

Alameda Funds, analyst, Analyst Findings, August 2020, Bowtiediguana, Changenow exchange, Chef Nomi, ERC20 Tokens, ETH, Ethereum, Fixedfloat exchange, ftx, FTX co-founder, FTX collapse, FTX funds, Onchain, onchains, Receuthcoln, Sam Bankman-Fried , sbf, SBF Alameda, SBF FTX, SEC, Securities and Exchange Commission, Sushiswap, USDT

What do you think about the onchain moves caught by analyst Bowtiediguana? Let us know what you think about this topic in the comments section below.

Jamie Redman

Jamie Redman is Head of News at Bitcoin.com News and a fintech journalist based in Florida. Redman has been an active member of the cryptocurrency community since 2011. He is passionate about Bitcoin, open source code and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about disruptive protocols emerging today.

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