FTX: Sam Bankman-Fried moved $684,000 in crypto assets while under house arrest

If these funds were spent by SBF, it goes against the court’s conditions of release which state that the former FTX executive is not allowed to spend more than $1,000 without court permission.

An analyst discovers that funds related to SBF and Alameda’s portfolios were moved while the FTX co-founder is under house arrest.

On Thursday, an analyst named “Bowtiediguana” published a Twitter feed showing that Sam Bankman-Fried may have spent $684K while under house arrest. According to Bowtiediguana, in August 2020, SBF agreed to temporarily take over the decentralized (dex) exchange Sushiswap, after the anonymous founder Chef Nomi decided to leave. When the agreement was reached, SBF shared a public Ethereum address and Chef Nomi transferred ownership of Sushiswap to SBF’s address.

FTX co-founder is accused of moving $684,000 in crypto assets while under house arrest.

After SBF was released, his wallet sent all of his remaining tokens to a new Ethereum address created an hour earlier“, Bowtiediguana tweeted. “Within 3 hours, over 100 new deposits were made to this portfolio from various addresses, most with ties to SBF’s defunct Alameda Research hedge fund.“The analyst continues:

In less than 4 hours, 570 ethereum worth approximately $684,000 were transferred from this new wallet to various destinations. The funds were sent to a Seychelles-based no-KYC exchange and to the Bitcoin network via the Ren Protocol network a bridge funded by Alameda. Perhaps the SEC lawyers would like to know about this?

The address in question is the following ethereum address “which received an additional $1 million from 11 wallets bearing the name Alameda Research“, said Bowtiediguana. “5 separate transactions of 51 ETH were used to transfer funds to newly created portfolios and then to a Seychelles-based exchange. 3 tranches of 200K USDT were also sent from the SBF linked portfolio to the Fixedfloat exchange“, the analyst adds.

The Bowtiediguana thread shows that an individual decided to send an email to information to the U.S. Securities and Exchange Commission (SEC) on the latest movements onchain. Others have tagged the U.S. regulator in the Twitter feed and stated:: “@secgov you gave [SBF] 2 long of a leash sires. plz address this criminal.“It is not confirmed at this time who actually moved the funds, but many speculate that it was SBF.

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Since SBF’s arrest and subsequent release, funds linked to FTX and Alameda have been transferred, and the transfers were spotted by onchain detectives. The Alameda-related funds were transferred two days ago and were reportedly sent to Fixedfloat and Changenow, and then converted into Euros. In another case, a wallet marked Alameda sent 11.37 wrapped bitcoins (WBTC) to a wallet after withdrawing them from Aave on December 29.

On the same day, another wallet marked Alameda sent 22.500 USDC on December 29. Both of these transactions took place the day after a large quantity of Alameda-linked ERC20 tokens were moved on Wednesday, December 28.

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