Sam Bankman-Fried sent 570 ETH ($684,000) to a Seychelles-based exchange and Ren Protocol’s Bitcoin bridge
Sam Bankman-Fried (SBF), the creator of the now-defunct FTX exchange, sent over 570 Ether worth $684,000 to a Seychelles-based exchange and Ren Protocol’s Bitcoin bridge on Wednesday, indicating that he tried to withdraw the money.
FTX founder Sam Bankman-Fried leaves Manhattan Federal Court after his arraignment and bail hearings on Dec. 22, 2022 | Source: Michael M. Santiago/Getty Images
FTX founder Sam Bankman-Fried allegedly cashes out $684,000
The CEO of the defunct FTX cryptocurrency exchange is transferring money from his personal wallets to several platforms for cryptocurrency exchanges, and his most recent post confirmed wallet ownership, which brings us to the unsettling conclusion that SBF might be getting ready to go for a run.
SBF consented to take over the Sushiswap exchange from Chef Nomi in August 2020. Some conspiracy theorists believed that SBF co-founded Sushiswap with another person. Recently, money was transferred using the same wallet used to receive ownership.
To be clear if it’s given to me I’ll make sure migration happens as planned and transfer it to a real multisig.
And while I’d obviously love to see Sushi on Serum, that’s up to the community, not me.
— SBF (@SBF_FTX) September 6, 2020
SBF was published, and he immediately sent all of its remaining cryptocurrency tokens to a fresh Ethereum address he’d made previously. More than 100 deposits to numerous addresses with specific connections to SBF’s Alameda Research were made in less than three hours.
Recently, 570 Ethereum worth over $700,000 were transferred to a number of locations, including the bridge and a Seychelles-based no-KYC exchange. Such operations have previously been regarded as suspicious since they may allude to the unpleasant fact that SBF is getting ready to leave.
Since SBF’s activities at this time indicate that his intentions to cooperate with the prosecution and behave in the best interests of FTX clients may be deceptive, anonymous on-chain sleuths even made the decision to disclose the data with the prosecution’s attorneys.
Even though actions on the chain do not appear to be indicative of liquidation, it is possible that SBF and his competitors are. It is not yet known if SBF himself or outside parties are in charge of his accounts, which would explain the businessman’s present actions.
Read more:
- Bahamas Has Seized FTX Deposits Valued At More Than $3.5 Billion As Of Nov. 12
- FTX Founder Sam Bankman-Fried Was Spotted At The JFK Airport With His Chilling At Business Class
- U.S. District Judge Lewis Kaplan Has Been Assigned To Preside Over The Fraud Case Against Sam Bankman-Fried