Crypto Wallets Tied to Alameda Research Transfer Millions of FTT Tokens
• Alameda Research, a crypto trading firm linked to Sam Bankman-Fried, recently filed for Chapter 11 bankruptcy.
• On February 7th, wallets linked to the firm suddenly resurrected and transferred millions of FTT tokens.
• Blockchain security firms PeckShield and Arkham Intelligence have reported that Alameda Research withdrew $204 million ahead of its bankruptcy filing.
Alameda Research Files Chapter 11 Bankruptcy
Alameda Research, a crypto trading firm linked to Sam Bankman-Fried, recently filed for Chapter 11 bankruptcy in November 2020.
Wallets Linked to Firm Resurrect
On February 7th, wallets linked to the firm suddenly resurrected and transferred millions of FTT tokens. In particular, two wallets were involved in this recent transaction—the ‘brokenfish.eth’ wallet made a transfer of FTT tokens worth $2 million from the BentoBox smart contract on SushiSwap which Sam Bankman-fried has had a history with since 2020 after taking over the DEX from Chef Nomi; while the “Alameda Research 4” wallet bought more than 1 million of FTT tokens worth about $2.3 million and then opened a loan position on Abracadabra mortgaging 73,000 FTT tokens and $31,000 cash. This is not the first time Alameda wallets are seeing some huge activity post the FTX bankruptcy filing.
PeckShield & Arkham Intelligence Alerts
Blockchain security firm PeckShield alerted that „Alameda Consolidation“ received $13 million worth of crypto assets from three different wallets prior to this latest incident; while Arkham Intelligence revealed that Alameda Research withdrew $204M ahead of its bankruptcy filing as well.
Crypto Community Concerned
The unusual activity surrounding these wallets has become a big concern for the crypto community with many speculating what might be happening behind closed doors at Alameda Research’s offices or if their safety measures are strong enough to prevent any potential theft or misappropriation of funds.
Conclusion
It remains unclear why these wallets became active after Alameda’s bankruptcy filing but it is likely that further investigations will reveal more information about what happened during this time period and provide greater clarity regarding issues such as asset protection measures at Alameda Research going forward into future projects involving cryptocurrency investments and trading firms like them.