Sam Bankman-Fried Accused of Moving $684K in Crypto Assets While Under House Arrest

On Thursday, an analyst published a Twitter thread that shows Sam Bankman-Fried, the disgraced co-founder of FTX, may have spent $684K while he is on house arrest. According to the analyst, in August 2020, SBF agreed to temporarily take over the decentralized exchange (dex) Sushiswap, after the anonymous founder Chef Nomi decided to leave. When the deal was made, SBF shared a public Ethereum address and Chef Nomi transferred ownership of Sushiswap to SBF's address.

"After SBF was released, his wallet sent all its remaining crypto tokens to a new Ethereum address created an hour earlier," Bowtiediguana tweeted. "In 3 hours, over 100 new deposits were made to this wallet from various addresses, most having links to SBFs defunct hedge fund Alameda Research."

The analyst continued: "In less than [four] hours, 570 [ethereum] worth approximately $684,000 was transferred out of this new wallet, to various destinations. Funds were sent to a no-KYC exchange based in Seychelles and to the Bitcoin network via the [Ren Protocol], a bridge funded by Alameda. Perhaps the SEC attorneys would like notice of this?"

The address in question is this ethereum address "which received a further $1M from 11 wallets labeled as Alameda Research," Bowtiediguana said. "[Five] separate transactions of 51 ETH were used to move funds to newly created wallets [and] then onwards to a Seychelles-based exchange. [Three] tranches of 200K USDT were also sent from the SBF linked wallet to the Fixedfloat exchange," the analyst added.

It is unconfirmed at the moment as to who actually moved the funds, but many are speculating that it was SBF.

Since SBF's arrest and his later release, FTX and Alameda-related funds have been moving, and transfers have been caught by onchain sleuths. Funds linked to Alameda were transferred two days ago and reportedly they were sent to Fixedfloat and Changenow and further converted into BTC. In another instance, an Alameda-labeled wallet sent 11.37 wrapped bitcoin (WBTC) to a wallet after removing it from Aave on Dec. 29.

The same day, another Alameda-labeled wallet sent 22,500 USDC on Dec. 29. Both of these transactions took place the day after a large swathe of ERC20 tokens linked to Alameda were moved on Wednesday, Dec. 28.

(Source: Bitcoin.com)