2 - 3 minute read
Sam Bankman-Fried, the former CEO of FTX exchange, has denied moving funds tied to Alameda wallets after being released on a $250 million bond. In a tweet to his 1.1 million followers, Bankman-Fried stated that he “couldn’t be moving any of those funds” and that he no longer has access to them. The denial comes after a news report by Cointelegraph suggested that a wallet address starting with 0x64e9 had received over 600 ETH from wallets belonging to Alameda. The movement of the funds and the manner in which they were moved led some to suspect an inside job and speculate that Bankman-Fried may have been involved.
An on-chain investigation by DeFi educator BowTiedIguana also raised concerns, as it appeared to show that Bankman-Fried had cashed out $684,000 in cryptocurrency through an exchange in Seychelles while under house arrest. These transactions seemed to violate the release condition that Bankman-Fried could not spend more than $1,000 without permission from the court.
Did disgraced crypto founder Sam Bankman-Fried just cash out $684k to a crypto exchange in the Seychelles while under house arrest?— BowTiedIguana (@BowTiedIguana) December 30, 2022
His release conditions are that he not spend more than $1,000 without permission from the court.
Let's examine the evidence on chain 👇
The situation has caused concern within the cryptocurrency community and highlights the need for proper oversight and regulation in the industry. The lack of transparency and potential for insider manipulation can undermine investor confidence and damage the integrity of the market. It remains to be seen how the situation will be resolved, but for now, Bankman-Fried denies any wrongdoing.