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HomeNewsSBF Breaks Prohibition: Processes $684K Transactions

SBF Breaks Prohibition: Processes $684K Transactions


The former CEO of FTX reportedly cashed out close to $700,000 in cryptocurrencies after being released on bail.

According to an on-chain investigation, SBF allegedly cashed $684,000 from a Seychelles crypto exchange while under house arrest.

SBF Goes Beyond Bans

Founder of FTX by on-chain data Sam Bankman-Friedreportedly exchanged large amounts of cryptocurrencies shortly after being released on bail.

DeFi analyst BowTiedIguana According to on-chain research by SBF, SBF deposited $684,000 in crypto on a Seychelles stock market while under house arrest. It was also stated that the former CEO of FTX suggested that he may have violated the terms of his release in order not to spend more than $ 1,000 without obtaining court permission.

According to BowTiedIguana’s analysis, SBF’s public address (0xD5758) on December 28 sent all remaining Etherum (ETH) to a newly created address (0x7386d). BowTiedIguana notes that SBF took over the address that originally belonged to the Sushiswap creator from Chef Nomi in August 2020.

Within hours, 0x7386d received a total of $367k in transfers from 32 addresses identified as Alameda Research wallets, and another $322k from other wallets. According to the DeFi analyst, all funds were sent to a centralized crypto exchange and crypto bridge RenBridge in Seychelles.


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