Even though he’s under house arrest and police surveillance, Sam Bankman-Fried can still make headlines. For example, he is suspected of moving funds from one of his now-defunct companies. The founder and former CEO of FTX, Sam Bankman-Fried, took to social media this week to deny involvement in a series of bizarre wallet transfers and token swaps linked to Alameda Research. To counter claims that he took money from Alameda’s wallets, he stated that he was not the one making the transactions. I am not and could not move any of these funds; I no longer have access to it.
Along with sister company FTX, Alameda Research is the cryptocurrency trading company that went bankrupt in November.
None of these are me. I'm not and couldn't be moving any of those funds; I don't have access to them anymore.https://t.co/5Gkin30Ny5
— SBF (@SBF_FTX) December 30, 2022
Is Sam Bankman-Fried the One Moving the Funds?
It was discovered a few days after Bankman-Fried was released on a $250 million bond that cryptocurrency wallets associated with the bankrupt Alameda were moving funds using coin mixers to disguise transactions.
According to data tracker Arkham Intelligence, the total value of these transactions exceeds $1 million.
This week, more than $1.7 million in cryptocurrency held in Alameda Research wallets was transferred via exchanges and coin mixers.
According to a report, a wallet address starting with 0x64e9 received over 600 Ether (ETH) from Alameda-owned wallets. According to on-chain transactional data, some funds were exchanged for USDT, while the rest were routed to a mixing service.
Federal Prosecutors Expected to Investigate
According to Bloomberg, these particular transactions have piqued the interest of federal prosecutors in the United States, who intend to launch an investigation. Authorities in the Southern Counties of New York, who just last month filed criminal charges against Bankman-Fried for his role in the collapse of FTX, are trying to determine who was handling the assets in question.
Every day the endless FTX controversy takes a new turn, and the recent transfer of assets to restore what is left in these cryptocurrency wallets is worrying the community. Without the court’s permission, Sam Bankman-bail Fried is prohibited from engaging in any financial transaction worth more than $1,000. Bloomberg claimed that around $372 million worth of tokens were taken out of trading hours after FTX filed for bankruptcy on Nov. 11, citing bankruptcy records on its bank account, despite previously describing it as a billionaire. He is currently under house arrest at his parents’ home in California, with an electronic monitor around his ankle.