Alameda, the sister company of the bankrupt FTX, has recently come to the fore with some suspicious transactions. Bots monitoring the company’s wallets reveal $1.5 million transfers to ChangeNow and Binance, including coins like AAVE and LINK.
Alameda stacks AAVE and these 5 altcoins on centralized exchanges
The FTX-linked company has been in the spotlight recently, with transactions converting several ERC-20 tokens to USDT and ETH. These funds were then transferred over multiple wallets to centralized exchanges such as ChangeNow, FixedFloat, and Binance. Blockchain security platform Peck Shield says that as of December 28, the company’s wallets are active again. In a new tweet, he reports that Alameda is trading multiple tokens over the Ethereum network. Cryptocurrencies subject to transactions are as follows:
- AAVE (AAVE)
- SushiSwap (SUSHI)
- Chainlink (LINK)
- Lido DAO (LDO)
- Tether (USDT)
#PeckShieldAlert Alameda-labeled addresses have been swapping ERC20 tokens (e.g. $LDO, $AAVE) for ETH/USDT, then sent $ETH to ChangeNOW and $USDT to Fixedfloat and Binance through fresh wallets within the last 10 hours pic.twitter.com/Ys1eWBbiv4
— PeckShieldAlert (@PeckShieldAlert) December 28, 2022
On-chain data shows that the above tokens were distributed to several different wallets after being exchanged for USDT and ETH. Large amounts of USDT were sent to the central exchanges FixedFloat and Binance. Ethereum (ETH) was transferred to ChangeNow. Peck Shield states that Alameda completed these processes in less than ten hours. Given the current state of the company, investors are worried about a possible sale.
Alameda raised $1.5 million
Transactions carried around $1.5 million worth of tokens, according to a report from on-chain data provider Lookonchain. These include 411 ETH worth $491,000 and USDT worth $1 million. Meanwhile, the report shows that transactions are taking place via ChangeNOW, FixesFloat, and Binance.
We found many addresses labeled Alameda selling ERC20 tokens, and transferred ~411 $ETH($491,783) and 1M $USDT #ChangeNOW, #FixedFloat and #Binance via address "0x64e9".
Total about $1.5M.https://t.co/xgQepk3iFW pic.twitter.com/nZETCvYGJw
— Lookonchain (@lookonchain) December 28, 2022
Another researcher, ZachXBT, shared that the majority of tokens are exchanged for Bitcoin (BTC). According to its research, the company processed these transactions through four new BTC addresses. You can take a look at the transaction records in the tweet below.
Alameda ETH addresses are digging around in the sofa for spare change and swapping bits ERC20s for ETH/USDT.
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
— ?∴Ergo∴? (@ErgoBTC) December 28, 2022
Meanwhile, due to Alameda’s bankruptcy state, the crypto community is worried that the company will sell out. Others argue that the proceedings are within the scope of the litigation process. However, this view was refuted as liquidators would not benefit from ChangeNow and FixedFloat. In addition, the fact that Alameda’s transactions are made through new addresses strengthens the possibility of a new scandal.
cryptocoin.com As you follow, former CEO SBF was released on $250 million bail shortly after he was arrested. Some argue that SBF tried to cash out Alameda wallets after they were released. Also, FTX is about to face a class action lawsuit very soon. The new lawsuit was filed in the U.S. District of Delaware Bankruptcy Court on December 27.
