SBF Denies Of Moving Funds Into Almeda Associated Wallets As He Returns To Twitter

January

2

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Sam Bankman-Fried, the former CEO of FTX, has come back on Twitter to refute claims that he transferred money out of wallets connected to the now-bankrupt trading company Alameda Research.

SBF stated that he couldn’t be transferring any of those monies because he no longer has access to them in response to a report that claimed wallets connected to Alameda moved money just days after Bankman-Fried was freed on bail. Added him:

“I think there’s a good chance that FTX’s legitimate branches may access these monies, and I hope that’s what’s occurring in this situation. If they don’t, let’s hope one does so soon. If any regulators needed my advice on this, I would be pleased to do so.”

He said on Twitter;

“I think there’s a good chance that FTX’s legitimate branches may access this cash, and I hope that’s what’s occurring in this situation. If not, let’s hope somebody comes forward soon to do it. If any regulators requested my advice on this, I would be pleased to do so.”

On December 28, a few Twitter users and internet investigators quickly identified the flow of money from Alameda wallets, which were exchanging various amounts of ERC-20 tokens for ETH and USDT before passing through rapid exchanges and mixers.

ZachXBT, a well-known on-chain expert, claimed that the Alameda wallet finally converted the cash into Bitcoin utilising decentralised exchanges like FixedFloat and change now.

One or more insiders of the FTX, such as SBF, have been the subject of some user speculation. SBF is now being kept under house arrest at the Palo Alto home of the Bankman-Fried family. Last Monday, he was freed from custody after posting a $250 million bond in a New York court.

It’s noteworthy that several internet investigators reported yesterday several wallet transactions that appeared to be connected to SBF had been obscured.¬†

He could have paid out roughly $684,000 to a cryptocurrency exchange in Seychelles while under house imprisonment, according to an on-chain inquiry by Defi instructor BowTiedIguana.

BowTiedIguana reported that all of the cryptocurrency tokens from a wallet connected to SBF had been transferred to a new Ethereum address. After then, in a span of three hours, the new wallet received more than 100 fresh contributions from various addresses, the majority of which were connected to Alameda Research. They also said

“This new wallet received 570 ETH worth around $684,000 in transfers in less than 4 hours to several different locations. Through the Ren Protocol, a bridge supported by Alameda, money was transferred to a no KYC exchange with headquarters in Seychelles and to the Bitcoin network.”

As previously mentioned, SBF will be arraigned on January 3 and is anticipated to enter a plea of not guilty to the allegations of fraud and other offences. The Southern District of New York filed an eight-count criminal complaint against him, including conspiracy to commit wire fraud and theft of consumer cash.

About the author, Awais Rasheed

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