June 18, 2024

Arkham Intelligence: Alameda Research Withdraws Over $200M in Crypto from FTX

Article Reading Time:
1 min.

Arkham Intelligence: Alameda Research Withdraws Over $200M in Crypto from FTX

Analysts at Arkham Intelligence reported that before filing for bankruptcy, Alameda Research withdrew cryptocurrency from eight wallets of the FTX exchange.

The bulk of the withdrawn assets worth $116 million (57.1%) were stablecoins, including Tether (USDT), USD Coin (USDC), Binance USD (BUSD), and TrueUSD (TUSD).Arkham's analysis showed that $49.49 million (24.2%) of the withdrawn assets were in Ether, while $38.06 million (18.7%) were in Wrapped Bitcoin (wBTC):

"The withdrawn wBTC was sent to the Alameda WBTC Merchant wallet and then fully connected to the BTC blockchain."

Analysts at Arkham Intelligence added that about 69% ($142.4 million) of the transferred assets were sent to wallets owned by FTX International.Experts suggest that Alameda Research "built bridges between the two companies."Of the share in Ether, $35.52 million in assets were sent to FTX, and $13.87 million to a large active trading wallet.

It is not known whether nearly 14 million ETH was sent to 0xa20 as part of the deal or as an internal transfer of funds within Alameda, speculatesAccording to their data, another $10.4 million in cryptocurrency was sent to the address of the rival exchange Binance.

Recently, the former CEO of the bankrupt FTX admitted to ineffective oversight of customer assets.