Days after being freed on a $250 million bond, Sam Bankman-Fried, the former CEO of the now-defunct FTX exchange, has denied shifting money from Alameda wallets.
SBF's denial
Fried tweeted his denial of any role in transferring money from Alameda wallets to his 1.1 million followers on December 30. None of them are me, he said in response to claims that he may have been in charge of transferring money from Alameda wallets. Since I no longer have access to that money, I am not and cannot move any of them. SBF tweeted in reaction to a news article that claimed wallet addresses beginning with 0x64e9 had received more than 600 ETH from wallets belonging to Alameda.
None of these are me. I'm not and couldn't be moving any of those funds; I don't have access to them anymore.https://t.co/5Gkin30Ny5
— SBF (@SBF_FTX) December 30, 2022
The Incriminating evidence
On-chain transactional data show that a portion of the money was transferred to USDT while the remainder was transmitted to a mixing service. The transfer of money and how it was handled sparked rumors that it may have been an inside job in the cryptocurrency industry. Some believed SBF might be responsible. It was discovered that the Alameda wallet was exchanging ERC-20 token bits for Ether and USDT, which were subsequently routed through instant exchanges and mixers.
Alameda ETH addresses are digging around in the sofa for spare change and swapping bits ERC20s for ETH/USDT.
— 🏴∴Ergo∴🏴 (@ErgoBTC) December 28, 2022
ETH and USDT then funneled through instant exchangers.
Rings some major alarm bells...https://t.co/GRVtChDL9rhttps://t.co/LJBi7cuFZLhttps://t.co/nxcXWgm5VO pic.twitter.com/AqcgxVRoMr
By an on-chain investigation, while under house arrest, DeFi professor BowTiedIguana (1), SBF, reportedly paid out $684,000 in cryptocurrency via a Seychelles exchange. On December 29, BowTiedIguana published a report on several purported SBF-related wallet transactions. The transaction records indicate that the former CEO of FTX may have disregarded the court's order that he not exceed $1,000 in expenditures.
SBF's next steps
Following his release on bail, the founder of FTX reportedly cashed out some funds. According to on-chain statistics, Sam Bankman-Fried, the creator of FTX, is withdrawing significant sums of bitcoin immediately after being freed on bond.
According to the on-chain inquiry by DeFi instructor BowTiedIguana.On December 29, Decentralized Finance (DeFi) expert BowTiedIguana reported on a series of wallet transactions purportedly connected to SBF on Twitter, implying that the former FTX CEO may have broken release restrictions to not spend more than $1,000 without authorization from the network Court.
