Bankrupt Alameda Resurrects, Transfers Millions of FTT Tokens

Februar 8, 2023 0 Comments

• Alameda Research, a crypto trading firm linked to Sam Bankman-Fried filed for Chapter 11 bankruptcy in November.
• Wallets linked to the firm suddenly resurrected and transferred millions of FTT tokens on February 7.
• Two wallets were involved in this transaction and opened a loan position on Abracadabra, a decentralized crypto-lending platform.

Alameda Research Files For Chapter 11 Bankruptcy

In November, Alameda Research, a cryptocurrency trading firm connected to Sam Bankman-Fried filed for Chapter 11 bankruptcy. The filing also included FTX and other affiliated firms.

Wallets Reappear And Transfer Millions Of FTT

On February 7th, wallets that were associated with Alameda Research suddenly reappeared and transferred millions of FTT (the native FTX token). Two wallets were involved in this recent activity; the “Alameda wallet address ‘brokenfish.eth’” made a transfer of FTT tokens worth $2 million from the BentoBox smart contract on SushiSwap which Sam Bankman-fried has had history with since 2020 after taking over the DEX from Chef Nomi. The other wallet known as “Alameda Research 4” bought more than 1 million of FTT tokens worth about $2.3 million and then proceeded to open up a loan position on Abracadabra mortgaging 73,000 FTT tokens and $31,000 cash.

Previous Activity By Alameda Wallets

This is not the first time that these wallets have seen some unusual activity post FTX bankruptcy filing; something which has become an issue of concern within the crypto community. Blockchain security firm PeckShield alerted that „Alameda Consolidation“ received $13 million worth of crypto assets from three different wallets while Arkham Intelligence revealed that Alameda Research withdrew $204M ahead of its bankruptcy filing date.

Crypto Community Response To Activity

The crypto community has been puzzled by what could be going on behind closed doors with many speculating that it might be related to either money laundering or liquidating assets before declaring bankruptcy as most cases show bankrupt companies selling off their assets before finalizing proceedings with creditors; however nothing can be said for certain without any proof or evidence from either side yet being released publicly .

Conclusion

In conclusion, it is still unclear why these wallets are seeing such unusual activity post FTX’s bankruptcy filing especially considering how long they had laid dormant prior to this event but many theories are currently being circulated about what could possibly be going on behind closed doors particularly whether or not there is any link between this activity and money laundering or liquidation of assets before finalizing proceedings with creditors if it indeed turns out to be true then further investigations will have to take place in order to get answers regarding this matter as soon as possible