Alameda Research withdrew $204 million from FTX US prior to its collapse, according to blockchain analytics company Arkham Intelligence.
Different International Wallets
Alameda, FTX exploiter ($49 million), and Amber Group ($40 million) were the top three organizations who withdrew the most money from the crypto exchange’s US subsidiary between November 6 and the time of its collapse.
Eight addresses connected to Alameda Research were found by Arkham to have received $204 million in different cryptocurrency holdings. Of the total, $142.4 million in assets were transferred to FTX international wallets.
FTX US and FTX International are most likely connected via Alameda, according to Arkham. Sam Bankman-Fried is the owner of the three businesses, which are under strict regulatory investigation right now.
According to a Twitter thread by Arkham, Alameda primarily withdrew Wrapped Bitcoin, Ethereum, and stablecoins linked to the USD.
$10.4 Million Moved to Binance
The thread went on to reveal that USD stablecoins made up 57.1% ($116 million) of the withdrawn monies. USDT, BUSD, TUSD, and USDC stablecoins were involved. FTX received the majority of the payments, while $10.4 million was moved to Binance, a competitor exchange.
Furthermore, according to Arkham, Alameda withdrew $38.06 million (18.7%) in wrapped Bitcoin (wBTC). The withdrawn wBTC were transferred to Alameda’s wBTC merchant wallet and then bridged into the BTC network. ETH accounted for $49.39 million (24.2%) of the withdrew funds at the same time. FTX received $35.52 million, while the remaining $13.87 million was paid to a trading address of 0xa20.
Interestingly, the address is still active. However, the data aggregator was unable to identify whether the transfer was an internal transfer or a component of a trade. In a separate development, the court granted all of FTX’s applications for relief during its initial bankruptcy appearance, including paying some significant vendors.
The bankrupt exchange would be permitted to pay its essential vendors up to $8.5 million, while international vendors can only be paid up to $1 million, according to the Nov. 23 court filing. John Ray III, the CEO of the exchange, claimed that the company is now working on recovery attempts to acquire the most money possible for creditors.
In contrast to the .1 billion obligations it owed its 50 largest creditors, the company’s bankruptcy petition indicated a balance of .24 billion.
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