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

Wallets linked to disgraced FTX founder Sam Bankman-Fried transferred a significant amount of previously unreported transactions across blockchains, according to an Onchain investigation. The moves were spotted by Coinbase CEO Conor Grogan, and while most of the transactions took place on December 28, there was some recent activity in the first few days of the new year.

Onchain findings reveal suspected unreported transactions involving SBF, FTX and Alameda

About a week ago on 12/28/2022, onchain researchers discovered that many funds linked to the FTX and Alameda Research wallets were moving while former FTX CEO Sam Bankman-Fried was under house arrest. Two days after the transfer of funds, Bankman-Fried tweeted: “None of this is me. I have not and could not transfer any of those funds; I no longer have access to them.” He was immediately bombarded with questions when he tweeted on December 30. “How can the address you identified as moving money be then?” asked Cobie, crypto supporter and host of Uponly.

“I think it’s likely that several legit legs of FTX will be able to use these funds; hopefully that will happen here,” SBF added. “If not, hopefully someone will get around to doing that soon. I’d be happy to help the regulators on this if anyone wants.”

A week after onchain researchers discovered the movement of addresses linked to FTX and Alameda, Conor Grogan, a Coinbase executive who frequently tweets about onchain activity, revealed a large number of SBF-linked tokens being transferred between different blockchains. The transactions took place on blockchains such as Polygon, Binance Smart Chain (BSC), Arbitrum and Avalanche. The addresses saw outgoing movements of coins such as MATIC, AVAX, USDC, USDT, BTCB, WBTC, SPELL, PTP, MDX and others.

“SBF (or someone with access to his wallets) likely transferred $10 million in previously unreported transactions between the Avalanche, BSC, Arbitrum, and Polygon blockchains,” Grogan tweeted. There was also activity recently on 1/02 and 1/03 [and] I found a receiving wallet with over $30 million in it. I went through every address linked to SBF and checked other blockchains. Private keys for ETH will work on other EVM chains,” Grogan added.

In addition to Grogan’s tweets, onchain researcher Ergo tweeted of some FTX-linked bitcoin transactions on January 4, 2023. “Probable bankruptcy group activity,” Ergo said. “ETH tx resets WBTC deposit address different from FTX/FTXUS swipe… Separate FTX and Alameda resources? The address has 502 BTC acquired 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, after Ergo’s tweet, the researcher also shared a tweet that showed the funds were there sent To the wasabi wallet. “The bankruptcy team still won’t disclose their addresses,” Ergo said. “But more onchain evidence that instant swapper addresses don’t work the same way as ‘FTX legit leget’.”

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

Jamie Redman

Jamie Redman is the news director of Bitcoin.com News and a financial technology reporter based in Florida. Redman has been an active member of the cryptocurrency community since 2011. He is passionate about Bitcoin, open source and decentralized applications. Since September 2015, Redman has written over 6,000 articles for Bitcoin.com News about disruptive protocols appearing today.