Did SBF only withdraw $684k?

Sam Bankman-Fried (SBF), the disgraced founder and former CEO of bankrupt cryptocurrency exchange FTX, is said to have cashed out $684,000 in crypto assets despite court restrictions on spending more than $1,000.

DeFi chain analyst BowTiedIguana took to Twitter to Sort Where the SBF transferred the money.

Follow the path of money

After Bankman Fried $250 million bail Last week, an FTX manager sent all the ether (ETH) in his public wallet to a file New wallet address – 0x7386df2Cf7e9776bCE0708072c27d6a7135D51CB.

A few hours later, $367,000 worth of cryptocurrency was transferred from 32 addresses owned by SBF subsidiary Alameda Research into the same wallet.

Address received an additional $322,000 from other wallets, bringing total assets to approximately $689,000.

Wallet address, 0x7386, sent token worth $629,000 in total holding to Another wallet address – 0x64e9B9cD74A46f71e7631CB033afA6E7849a8683.

Eleven wallet addresses marked as accounts owned by Alameda sent a total of $1 million to the same wallet address, 0x64e9. Then five transactions of less than 51 ETH were completed, sent to a newly created wallet address.

The money was transferred to the Seychelles Exchange

The funds were then transferred to a Seychelles-based crypto exchange that does not conduct Know Your Customer (KYC) activity for users.

Portions of the funds were also transferred via the Ren protocol and then to the Bitcoin network. The Ren protocol is a gateway that allows anyone to send BTC, ZEC, and BCH over the blockchain. Alameda acquired the platform in February 2021.

Three blocks of 200,000 USDT were also transferred to FixedFloat, a self-managed crypto exchange platform that facilitates transactions through its own Lightning Network.

It remains unclear if the SBF was actually behind the withdrawals, but it is only a matter of time before US lawyers begin investigating the transactions.

Bahamas regulators take $3.5 billion from FTX

Meanwhile, Bahamas authorities seized $3.5 billion in assets belonging to FTX Digital Markets, the Bahamian subdivision of the bankrupt cryptocurrency exchange, to prevent the money from disappearing.

According to the regulators, the money will be returned to the investors at the discretion of the court.

After SBF he only got $684k? It first appeared on CryptoPotato.

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