- FTX and Alameda, wallets associated with them, transferred a total of 23.59 million dollars worth of digital assets to top cryptocurrency exchanges.
- On October 24th, FTX and Alameda wallets transferred 10 million dollars to a single wallet address and later redistributed this amount to Binance and Coinbase accounts.
- The movement of funds dates back to March when FTX and Alameda began recovering assets for investors.
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Bankrupt crypto firms FTX and Alameda executed a 23.5 million dollar altcoin transfer: Which altcoins are being transferred?
FTX and Alameda Making Crypto Transfers
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Over four days, wallets associated with bankrupt crypto trading firms FTX and Alameda Research transferred a total of 23.59 million dollars worth of digital assets to top cryptocurrency exchanges. The blockchain analysis firm identified the move, estimating that the bankrupt assets have transferred a total of 591 million dollars using 59 different crypto tokens since October 24th.
Wallets associated with FTX shared the latest 23.59 million dollar transfer among 19 tokens: 6.8 million dollars worth of 3,150 Ether, 6.41 million dollars worth of 59.6 million Aleph.im (ALEPH), 2.48 million dollars worth of Curve DAO (CRV) tokens, 990,000 dollars worth of Avalanche
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Additionally, assets worth 6.07 million dollars, including various tokens like PUNDIX, RSR, DOGE, BCH, CHR, AXS, MATIC, UNI, ORBS, FXS, DOT, GMT, 1INCH, and SOL, were included in the transfers. FTX wallets moved these assets to major exchanges such as Binance, Coinbase, OKX, and Galaxy Digital OTC.
On October 24th, FTX and Alameda wallets transferred 10 million dollars to a single wallet address and later redistributed this amount to Binance and Coinbase accounts. On November 1st, a similar transaction occurred, and a 13.1 million dollar transfer was made to Binance and Coinbase accounts.
Months-long asset transfers
The movement of funds dates back to March when FTX and Alameda began recovering assets for investors. At that time, three wallets associated with FTX and Alameda Research transferred 145 million dollars worth of stablecoins to various platforms like Coinbase, Binance, and Kraken.
In total, 69.64 million dollars in Tether were moved to custodial wallets on crypto exchanges, and the remaining 75.94 million USDC was transferred to a Coinbase custodial wallet. Despite recovering over 5 billion dollars in cash and liquid cryptocurrencies, the troubled crypto exchange still has outstanding debts of 3.8 billion dollars.