Unreported Transactions Linked to Disgraced FTX Co-Founder Revealed by On-Chain Investigation – Bitcoin News

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According to research on the chain, wallets connected to Sam Bankman-Fried, the disgraced co-founder of FTX, transferred a significant number of previously unreported transactions to various blockchains. The transfers were discovered by Conor Grogan, chief executive of Coinbase, and while most of the transactions took place on December 28, there was some recent activity during the first days of the new year.

On-Chain Findings Reveal Unreported Suspicious Transactions Associated with SBF, FTX and Alameda

About a week ago, on December 28, 2022, on-chain investigators discovered that a number of funds linked to FTX and Alameda Research portfolios had moved while Sam Bankman-Fried, the former CEO of FTX, was house arrest. Two days after the funds were transferred, Bankman-Fried tweeted, “None of these are me. I am not and could not move these funds; I no longer have access to it. He was immediately bombarded with questions when he tweeted on December 30. “How does an address you’ve identified as yours then move funds?” asked Cobie, a crypto proponent and host of Only.

“I think it’s likely that various legitimate branches of FTX have the ability to access these funds; I hope that’s what’s happening here,” SBF added. “If not, I hope that we will intervene soon to do so. I would be happy to help advise regulators on this, if needed.

A week after chain sleuths uncovered the movement of FTX and Alameda-linked addresses, Conor Grogan, a Coinbase executive who frequently tweets about chain activity, discovered a large number of SBF-linked tokens. which have been moved to various blockchains. The movements took place on blockchains such as Polygon, Binance Smart Chain (BSC), Arbitrum and Avalanche. Addresses saw outgoing movements for coins such as MATIC, AVAX, USDC, USDT, BTCB, WBTC, SPELL, PTP, MDX, etc.

“SBF (or someone with access to its wallets) most likely moved $10 million in previously unreported transactions on the 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 over $30 million. I went through every address linked to SBF and checked other blockchains. Private keys for ETH work on other EVM chains,” Grogan added.

In addition to Grogan’s tweets, on-chain researcher Ergo tweeted about some FTX-related bitcoin movement on Jan. 4, 2023. “Probable bankruptcy team activity,” Ergo said. “ETH tx reset WBTC deposit address, different from FTX/FTXUS scan…Separate FTX and Alameda assets? The address contains 502 BTC from Deribit withdrawals. At the time of writing, after the initial 502 BTC, the address now has a balance of around 3,499 BTC.

Additionally, following Ergo’s tweet, the researcher also shared a tweet that showed funds had been sent to a Wasabi wallet. “The bankruptcy team still won’t disclose their addresses,” Ergo said. “But more on-chain evidence that instant exchange addresses don’t behave the same as ‘legitimate legs of FTX’.”

Tags in this story ‘legit legs’, address, Arbitrum, Avalanche, AVAX, bankruptcy team, Binance Smart Chain, Bitcoin, blockchains, BSC, BTCB, co-founder, Conor Grogan, Crypto, Deribit withdrawals, ETH, ETH tx , EVM chains, ftx, funds, home held, instant exchange, matic, MDX, Onchain Research, outbound movements, Polygon, Polygon blockchains, private keys, PTP, receiving wallet, regulators, Sam Bankman-Fried, SPELL, tokens, transactions, USDC, USDT, wallets, Wasabi wallet, WBTC, wBTC deposit

Do you have an opinion on the mysterious token movements related to FTX and Alameda? Share your thoughts with us in the comments section below.

Jamie Redman

Jamie Redman is the news manager for Bitcoin.com News and a fintech journalist living 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 over 6,000 articles for Bitcoin.com News about disruptive protocols emerging today.

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