Wallet addresses linked to the defunct FTX exchange and Alameda Research transferred at least $38.8 million in digital assets to exchanges in 2024.
Since January 2024, crypto wallets linked to the now-defunct FTX exchange and its sister company, Alameda Research, have transferred more than $38.8 million in digital assets to various crypto exchanges.
According to data tracked by blockchain analytics firm PeckShield, wallets associated with both organizations transferred at least $7 million in February to exchanges. On February 4, the addresses transferred $2.6 million in Ether ETH ($2,330) to Coinbase and approximately $1.1 million in Ton (TON) and Fantom FTM ($0.36) to FalconX and Wintermute. On February 6, the crypto wallet addresses transferred at least $3.3 million in various assets to Coinbase, Coinbase Prime, FalconX, and Binance.
#PeckShieldAlert #FTX/#Alameda addresses transferred 1K $ETH (worth ~$2.3M) to #Coinbase, 54.5K $RLC (worth ~$117.8K), 2.4M $SNT (worth ~$90.5K), 6.9K $NMR (worth ~$190K), 618K $OXT (worth ~$61K) and 162.5K $POWR (worth ~$48K) to #CoinbasePrime, 103.5K $NEXO (worth ~$90K) to… pic.twitter.com/l9WwjXfgvV
— PeckShieldAlert (@PeckShieldAlert) February 6, 2024
In January, cryptocurrency wallets linked to FTX and Alameda transferred at least $35 million to exchanges. On January 4, the wallets transferred $4.1 million in Cronos CRO ($0.08) to Coinbase. On January 9, the wallets transferred an additional $2.4 million in ETH to Coinbase and a 200 Wrapped BTC (WBTC) worth $9 million to Binance.
Later in January, FTX and Alameda moved an additional $16.3 million to various exchanges. On January 17, addresses linked to the organizations transferred $8.9 million in Tether Gold (XAUT) to Coinbase and $2.6 million in ETH to Wintermute. On January 30, crypto wallets transferred $2.3 million in ETH to Coinbase, $1.3 million in various altcoins to Binance, and $1.28 million to GSR Markets.
The fund movements occurred as the fallen exchange was restructuring and announcing plans to fully repay its customers. On Jan. 31, the defunct exchange stated in a US court hearing that its restructuring plans would not include a relaunch of the exchange, but would instead focus on repaying its customers in full. However, FTX attorney Andy Dietderich stated that repaying customers was an objective rather than a guarantee.
Following the hearing, criticism was leveled at the restructuring plan, citing the legal team’s profits from the ordeal. On February 4, former US Securities and Exchange Commission official John Reed Stark called the plan a “highway robbery of highway robbers.”
