Former FTX exchange CEO Samuel Bankman-Fried reportedly cashed his cryptocurrency holdings from a wallet address associated with him. On-chain analysts and experts have identified 32 wallet addresses that transfer $367,00 from Alameda Research to SBF.
Other crypto addresses sent an additional $322,000 to the wallet associated with SBF. SBF is then said to have cashed out the cryptocurrency with the help of a Seychelles-based platform and a DeFi bridge called RenBridge.
BowTiedIguana, a DeFi analyst, took to Twitter on December 29 to report on a series of obfuscated wallet transactions allegedly linked to SBF, implying that the former FTX CEO may have violated release conditions by spending more than $1,000 without court permission.
Did disgraced crypto founder Sam Bankman-Fried just cash out $684k to a crypto exchange in the Seychelles while under house arrest?
— BowTiedIguana (@BowTiedIguana) December 30, 2022
His release conditions are that he not spend more than $1,000 without permission from the court.
Let's examine the evidence on chain 👇
SBF’s public address, in particular, sent all Ethereum tokens to a newly created address. In August 2020, SBF took over the address that was previously owned by an anonymous Sushiswap creator from Chef Nomi, according to the analyst.
Within hours, 0x7386d received $367,000 in transfers from 32 addresses identified as Alameda Research wallets, plus an additional $322,000 from other wallets. According to the DeFi analyst, all funds were sent to a centralized crypto exchange in Seychelles and the crypto bridge RenBridge.
The same address also sent a total of 519.5 ETH worth $630k to another address, which also received funds from Alameda Research addresses. The analyst also disclosed five additional transactions involving less than 51 ETH [worth $61,000] that were used to transfer funds to newly created wallets.
According to BowTiedIguana, all funds were sent to a centralized crypto exchange in Seychelles as well as the crypto bridge RenBridge. Furthermore, the SBF-linked wallet 0x64e9B transferred 200,000 Tether (USDT) in three tranches to the FixedFloat exchange.
Requesting that the US Securities and Exchange Commission investigate the matter, BowTiedIguana stated,
Because the Ethereum blockchain is an immutable public ledger, this on-chain evidence is permanently available to law enforcement and courts,
Currently, Bank-man is under house arrest and is staying in San Francisco with his parents.
