{"id":15979,"date":"2022-12-30T18:09:55","date_gmt":"2022-12-30T18:09:55","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/disgraced-ftx-co-founder-accused-of-moving-684k-in-crypto-assets-while-under-house-arrest-bitcoin-news\/"},"modified":"2022-12-30T18:09:55","modified_gmt":"2022-12-30T18:09:55","slug":"disgraced-ftx-co-founder-accused-of-moving-684k-in-crypto-assets-while-under-house-arrest-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/disgraced-ftx-co-founder-accused-of-moving-684k-in-crypto-assets-while-under-house-arrest-bitcoin-news\/","title":{"rendered":"Disgraced FTX Co-Founder Accused of Moving $684K in Crypto Assets While Under House Arrest \u2013 Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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According to an analyst on Dec. 29, 2022, the disgraced co-founder of FTX, Sam Bankman-Fried (SBF), may have cashed out $684,000 in crypto assets while under house arrest. If the funds were spent by SBF, it goes against the court\u2019s release conditions that note the former FTX executive is not allowed to spend more than $1,000 without permission from the court. <\/strong><\/p>\n

Analyst Discovers Funds Tied to SBF\u2019s and Alameda\u2019s Wallets Moved While the FTX Co-Founder Is on House Arrest<\/h2>\n

On Thursday, an analyst called \u201cBowtiediguana\u201d published<\/a> a Twitter thread that shows Sam Bankman-Fried may have spent $684K while he is on house arrest. According to Bowtiediguana, 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\u2019s address.<\/p>\n

\"Disgraced<\/p>\n

\u201cAfter SBF was released, his wallet sent all its remaining crypto tokens to a new Ethereum address created an hour earlier,\u201d Bowtiediguana tweeted. \u201cIn 3 hours, over 100 new deposits were made to this wallet from various addresses, most having links to SBFs defunct hedge fund Alameda Research.\u201d The analyst continued:<\/p>\n

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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?<\/p>\n<\/blockquote>\n

The address in question is this ethereum address<\/a> \u201cwhich received a further $1M from 11 wallets labeled as Alameda Research,\u201d Bowtiediguana said. \u201c[Five] separate transactions of 51 ETH<\/a> were used to move funds to newly created wallets [and] then onwards to a Seychelles-based exchange. [Three] tranches of 200K USDT<\/a> were also sent from the SBF linked wallet to the Fixedfloat exchange,\u201d the analyst added.<\/p>\n

Bowtiediguana\u2019s thread shows that an individual decided to email<\/a> the information to the U.S. Securities and Exchange Commission (SEC) about the latest onchain movements. Others tagged the U.S. regulator in the Twitter thread and said<\/a>: \u201c@secgov u gave [SBF] 2 long of a leash sires. plz address this criminal.\u201d It is unconfirmed at the moment as to who actually moved the funds, but many are speculating that it was SBF.<\/p>\n

Since SBF\u2019s arrest and his later release, FTX and Alameda-related funds have been moving, and transfers have been caught<\/a> 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<\/a>. In another instance, an Alameda-labeled wallet sent<\/a> 11.37 wrapped bitcoin (WBTC) to a wallet after removing it from Aave on Dec. 29.<\/p>\n

The same day, another Alameda-labeled wallet sent<\/a> 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.<\/p>\n

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Alameda Funds<\/a>, analyst<\/a>, Analyst Findings<\/a>, August 2020<\/a>, Bowtiediguana<\/a>, Changenow exchange<\/a>, Chef Nomi<\/a>, ERC20 Tokens<\/a>, ETH<\/a>, Ethereum<\/a>, Fixedfloat exchange<\/a>, ftx<\/a>, FTX co-founder<\/a>, FTX collapse<\/a>, FTX funds<\/a>, Onchain<\/a>, onchain sleuths<\/a>, Ren Protocol<\/a>, Sam Bankman-Fried<\/a>, sbf<\/a>, SBF Alameda<\/a>, SBF FTX<\/a>, SEC<\/a>, Securities and Exchange Commission<\/a>, Sushiswap<\/a>, USDT<\/a><\/div>\n<\/div>\n

What do you think about the onchain movements caught by the analyst Bowtiediguana? 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, Editorial photo credit: Stephanie Keith \/ Getty Images<\/em><\/p>\n

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