{"id":15930,"date":"2022-12-29T07:30:44","date_gmt":"2022-12-29T07:30:44","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/onchain-sleuths-discover-funds-linked-to-alameda-swapped-for-eth-usdt-btc-by-a-mysterious-entity-bitcoin-news\/"},"modified":"2022-12-29T07:30:44","modified_gmt":"2022-12-29T07:30:44","slug":"onchain-sleuths-discover-funds-linked-to-alameda-swapped-for-eth-usdt-btc-by-a-mysterious-entity-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/onchain-sleuths-discover-funds-linked-to-alameda-swapped-for-eth-usdt-btc-by-a-mysterious-entity-bitcoin-news\/","title":{"rendered":"Onchain Sleuths Discover Funds Linked to Alameda Swapped for ETH, USDT, BTC by a Mysterious Entity \u2013 Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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On Dec. 27, 2022, a number of onchain researchers noticed that funds connected to Alameda Research and FTX have moved and have been swapped for other tokens. Reports show the hacker known as the \u2018FTX Accounts Drainer,\u2019 traded large sums of ERC20 tokens for digital assets like tether, ethereum, and bitcoin.<\/strong><\/p>\n

Funds Tied to Sam Bankman-Fried\u2019s Alameda Research Traded for Ethereum, Tether, and Bitcoin<\/h2>\n

It seems whoever controls the funds that once were connected to Alameda and FTX is starting to move a large handful of ERC20 tokens. According to the OXT onchain researcher Ergo<\/a>, on Twitter, Alameda-linked addresses started to swap ERC20s for ETH<\/a> and USDT<\/a>. \u201cAlameda ETH<\/a> addresses are digging around in the sofa for spare change and swapping bits ERC20s for ETH<\/a>\/USDT<\/a>,\u201d Ergo tweeted<\/a>. \u201cETH<\/a> and USDT<\/a> then funneled through instant exchangers. Rings some major alarm bells,\u201d the onchain researcher added.<\/p>\n

In response to Ergo\u2019s tweet, the onchain sleuth Zachxbt<\/a> replied and said<\/a>: \u201cthe funds are being swapped for [bitcoin],\u201d while sharing four different BTC<\/a> addresses (1<\/a>, 2<\/a>, 3<\/a>, 4<\/a>). All four of those addresses were sent roughly 11.9 bitcoin worth close to $199K using today\u2019s BTC<\/a> exchange rates. In the thread published by Ergo, someone asked<\/a> if the fund movements likely derived from the liquidators. Zachxbt dismissed the idea when he tweeted<\/a>: \u201cdon\u2019t think they would use Fixedfloat or Changenow.\u201d<\/p>\n

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Ergo also detailed that funds were swept into this ethereum wallet here<\/a><\/strong>.<\/figcaption><\/figure>\n

Nansen\u2019s Martin Lee<\/a> also confirmed that the funds were sent to Fixedfloat or Changenow. \u201cLots of activity going on among Alameda wallets in the past 6-7 hours,\u201d Lee said<\/a>. \u201cVarious tokens on ETH<\/a> being consolidated into [two] main wallets. Swapped to ETH<\/a>\/USDT<\/a> (USDC to USDT<\/a> too). USDT<\/a> [then] swapped to ETH<\/a>. Sent to multiple wallets and [then] to Fixedfloat [and] Changenow.\u201d Lee further added:<\/p>\n

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Transactions seem odd to me. Consolidation makes sense but after it\u2019s being consolidated the funds get sent to fresh wallets before it gets sent to Changenow [and] Fixedfloat.<\/p>\n<\/blockquote>\n

In addition to the recent movements, the FTX Accounts Drainer also controls the ethereum (ETH<\/a>) address \u201c0x97f<\/a>.\u201d The wallet holds around $200 million in ERC20 tokens and $41 million worth of FTT tokens. There\u2019s a substantial sum of crypto assets that were confiscated by an unknown entity the same day FTX filed for bankruptcy protection.<\/p>\n

Furthermore, just days before the bankruptcy filing, on Nov. 6, 2022, FTX\u2019s bitcoin reserves which equated to 20,176.84 BTC<\/a>, were siphoned from the wallet in less than 24 hours. The whereabouts of the more than 20,000 bitcoin worth $334.24 million today is still a mystery. A number of speculators have wondered if white hat hackers or even law enforcement now have control over these funds, while many speculate the owner is simply a thief.<\/p>\n

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20176.84 BTC<\/a>, Alameda Research<\/a>, Bitcoin<\/a>, BTC addresses<\/a>, ERC20<\/a>, Ergo<\/a>, Ethereum<\/a>, ethereum addresses<\/a>, Ethereum Wallets<\/a>, ftx<\/a>, FTX Accounts Drainer<\/a>, FTX Exchange<\/a>, Hacker<\/a>, Onchain<\/a>, Onchain movements<\/a>, onchain sleuths<\/a>, Onchain spends<\/a>, Sam Bankman-Fried<\/a>, sbf<\/a>, swaps<\/a>, Trades<\/a>, Unknown Entity<\/a>, Wallets<\/a>, Zachxbt<\/a><\/div>\n<\/div>\n

What do you think about the Alameda funds on the move and the ERC20 tokens being traded for ethereum, tether, and bitcoin? Let us know what you think about this subject in the comments section below.<\/strong><\/em><\/p>\n

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\nJamie Redman <\/h6>\n

\nJamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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