FTX founder reportedly cashes out $684K after being released on bail

According to BowTiedIguana, in August 2020, SBF purchased the address that had previously belonged to Chef Nomi, the founder of Sushiswap.

The Findings

Within hours, transactions totaling $367,000 were sent to 0x7386d from 32 addresses recognized as belonging to Alameda Research wallets, and $322,000 more was sent from other wallets. It was almost $629,000 transferred to 0x64e9B (1), which also got payments from addresses identified as Alameda Research, according to the DeFi researcher. All monies were routed to a controlled crypto exchange in Seychelles and the crypto bridge RenBridge. BowTiedIguana discovered five transactions totaling less than 51 ETH ($61,000) that were utilized to transfer cash to freshly formed accounts. "Onward to a Seychelles-based exchange" comes after wallets.

Possible connections

Additionally, three tranches totaling 200,000 Tether (USDT) were delivered to the FixedFloat exchange via the SBF-linked wallet 0x64e9B. (2) BowTiedIguana claimed that the on-chain evidence was always accessible to law enforcement and the courts since the Ethereum blockchain is an immutable public ledger by contacting lawyers from the US Securities and Exchange Commission to check into the situation.

Whether or not the transactions are connected to SBF, some business supporters argue that the creator of FTX may not have broken the terms of his bond release Others who left comments online conjectured that SBF was Chef Nomi, the unnamed co-founder of Sushiswap. Conor Grogan, head of the strategy at Coinbase, emphasized that early Sushiswap activity was closely tied to many of the current SBF-associated transactions. The early stages of LPing Sushi, long before Chef Nomi turned the initiative over to SBF, were deeply involved with these wallets, presuming they all belonged to him, according to Grogan.

Claims of Innocence

In September 2020, SBF asserted that he had no involvement in the construction of Sushiswap. About a week after SBF was granted bail on a $250 million bond backed by his parents and paid for with the equity in their home, the allegedly SBF-related transactions took place. SBF had previously said that with the demise of FTX, he only had $100,000 in his bank account.

Following the Bahamas government's formal announcement that local authorities seized cryptocurrency from FTX on November 12, valued at $3.5 billion. The authorities stated that the measure was made in response to SBF's mid-November warning concerning cyberattacks on FTX to prevent the danger of "imminent dissipation" of money.