• Alameda Research filed for bankruptcy in November and associated wallets have recently resumed activity, transferring millions of FTT tokens.
• Two particular wallets were involved in the transaction; one that transferred $2 million worth of FTT tokens from BentoBox’s smart contract, and another that bought more than 1 million of FTT worth $2.3 million and took out a loan position on Abracadabra.
• Furthermore, ahead of the bankruptcy filing, Alameda Research withdrew $204M from different wallets.
Alameda Research Files for Bankruptcy
In November 2020, crypto trading house Alameda Research filed for Chapter 11 bankruptcy alongside FTX and other affiliated firms.
Wallets linked to the firm suddenly came to life on February 7th with various transactions involving millions of FTT (the native FTX token). Two particular wallets were involved: one transferring $2 million worth of FTT tokens from BentoBox’s smart contract, while the other bought more than 1 million of FTT worth $2.3 million and took out a loan position on Abracadabra.
Cash Withdrawals Before Bankruptcy
Before filing for bankruptcy, Blockchain security firm PeckShield alerted that “Alameda Consolidation” received $13M worth of crypto assets from three different wallets. Arkham Intelligence also revealed that Alameda Research withdrew $204M ahead of its bankruptcy filing.
Concerns From Crypto Community
These wallet activities have generated concern among the crypto community due to their sudden reappearance post-bankruptcy filing.
The recent activities by these wallets linked to Alameda Research have raised eyebrows in the cryptocurrency space as they come shortly after Sam Bankman-Fried’s firm filed for bankruptcy protection. It remains unclear what their intentions are or how their actions will affect those affected by the company’s insolvency proceedings.