FTX founder reportedly cashes out $684K after being released on bail

FTX founder Sam Bankman-Fried cashed out a ton of cryptocurrency shortly after being released on bail, on-chain data suggests.

SBF cashed $684,000 in cryptocurrency on Seychelles exchanges while under house arrest, according to an on-chain study by DeFi educator BowTiedIguana.

Decentralized finance (DeFi) analyst BowTiedIguana tweeted Dec. 29. report A series of obfuscated wallet transactions allegedly linked to SBF suggest that the former FTX CEO may have violated the terms of his release not to spend more than $1,000 without court authorization. increase.

According to BowTiedIguana’s analysis, SBF’s public address (0xD5758) on December 28th Sent Send all remaining Ether (ETH) to the newly created address (0x7386d). BowTiedIguana noted that in August 2020 she took over from Chef Nomi an address that SBF owned by the creator of her Sushiswap.

When SBF agreed to take over control of the Sushiswap exchange from its anonymous founder Chef Nomi in August 2020, he asked for ownership to be transferred to his Ethereum address.https://t.co/nE9z9tLd2n pic.twitter.com/vask9WqSHd

BowTiedIguana (@BowTiedIguana) December 30, 2022

Within hours, 0x7386d received A total of $367,000 was transferred from 32 addresses identified as Alameda Research wallets, and another $322,000 was transferred from other wallets. All the funds went to RenBridge, a centralized crypto exchange and crypto bridge in Seychelles, according to DeFi analysts.

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0x7386d Sent A total of 519.5 Ether (ETH), or about $629,000 at 0x64e9B, also received Funding from addresses labeled Alameda Research. BowTiedIguana also identified five separate transactions of his under 51 ETH ($61,000). These were used to move funds to newly created wallets and then to Seychelles-based exchanges.

Also, SBF linked wallet 0x64e9B Sent Three tranches of 200,000 Tether (USDT) to FixedFloat exchanges.

This article is under development and will be updated.