Critical Development: SBF Secretly Sells These Altcoins!

Critical Development: SBF Secretly Sells These Altcoins!

According to some altcoin platforms, FTX founder Sam Bankman-Fried (SBF) may have taken action to sell the funds. He may have sent crypto at the cost of $1.48 million to various exchanges to cash out the funds. One of his wallets known to be related to SBF brought the funds together with several known Alameda wallets. He then began to increase them through three central exchanges alongside the Rhine. According to experts, it seems unlikely that law enforcement will inspect these wallets. Here are the details…

Mobility in altcoin wallet in contact with Sam Bankman-Fried

Sam Bankman-Fried insisted that he only had $100,000 left in his bank account. But he never mentioned his wallets. According to a cryptocurrency platform Cryptobriefing, SBF may have withdrawn as much as $1.48 million in cash. According to the platform’s accounts, Sam Bankman-Fried may have cashed out a valuable amount of $1.48 million from his ten chain wallets. As DeFi analyst BowTiedIguana points out, on-chain information shows that a Bankman-Fried-affiliated wallet sent 0.66 ETH to a newly created Ethereum wallet, starting with “0x7386” on Dec. We know that the original wallet is related to SBF as he tweeted it in September 2020.

The 0x7386 wallet received a total of 569.95 ETH from dozens of wallets in over a hundred processes in five hours. Some of these wallets are tagged on Etherscan for Alameda Research. It then proceeded to send 519.95 ETH to a wallet starting with 0x64e9. This wallet was also newly created, but before the ETH process, it originally held 800,000 USDT. The previous 800,000 USDT was sent to four different addresses, all of which combined USDT into a single wallet, starting at 0x4e5b. According to Etherscan, this wallet is related to the central exchange FixedFloat.

SBF may not have done the transactions

In this midst, 0x64e9 continued to exchange many of his 519.95 ETH for altcoin USDT. 200,000 USDT was exchanged again for 10.33 renBTC. The funds were then bridged to the Rhine, providing full process closure. Another 200,000 USDT was sent to three different wallets and was once again consolidated into a wallet starting with 0xbb3fd that Nansen flagged for Binance. Finally, the remaining 310.85 ETH was sent through eight different wallets. Once again, it was consolidated in a wallet starting at 0x077d, this time tagged as per Etherscan crypto exchange ChangeNOW. The remaining 50 ETH from the brand new 0x7386 address was also sent to this wallet.


Putting all of this together, it looks like whoever controls these wallets has cashed in roughly $1,480,500 in cryptocurrencies. Was it precisely Bankman-Fried who made the processes? No. Someone else could discover the private keys of these SBF-linked wallets. The bankruptcy filings show that the FTX cluster is not very careful about security. On the other hand, wallet activity used censorship-resistant methods to cash out the owner. In fact, the processes show that those who make the process are especially careful about this issue. Therefore, according to the platform, it is unlikely that the funds were moved at the behest of law enforcement.

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