Crypto wallets associated with now-defunct cryptocurrency exchange FTX and its sister trading firm Alameda Research had sent over $13 million in different altcoins to numerous cryptocurrency exchanges early on November 1.
According to data from on-chain analytics firm Spotonchain, FTX wallet was the first to move $8.12 million worth of altcoins to Coinbase. These assets include 46.5 million GRT ($4.85 million), 972,073 RNDR ($2.3 million), and 708.1 MKR ($967,000).
FTX and Alameda Research wallet addresses transferred another $5.49 million to Binance and Coinbase three hours later. The top three most valuable assets in this transaction include 1.14 million DYDX ($2.64 million), 192,888 AXS ($1.05 million), and 5,858 AAVE ($522,000).
#FTX and #alameda Investigate Further Deposits with 6 Assets Worth $5.49M $ghost, $Alice $AXS, #C98, $DYDX, $ZRXarrive #binance and #Coinbase About 30 minutes ago.
Top 3 include:
1.14M $DYDX ($2.64 million)
192,888 $AXS ($1.05 million)
5,858 $ghost ($522,000)comprehensive, #FTX and #alameda Research has… pic.twitter.com/JPbIXZJPzv
— Spot On Chain (@spotonchain) November 1, 2023
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Prior to the $13.1 million movement on November 1, cryptocurrency analytics firm Nansen had flagged several FTX-related wallet activity over the past week, in which millions of dollars in various cryptocurrencies were deposited into different cryptocurrency exchanges So. First, a batch of altcoins worth $8.1 million was transferred to Binance; Nansen estimates that another $24.3 million worth of assets in wallets related to FTX and Alameda were deposited into Binance and Coinbase.
Separate from the $8.6 million initially transferred:
– $2.2 million link
– USD 1 million AAVE
– 2 million USDMKR
– $3.4 million ETHWe also discovered another $24.3 million that had been deposited into wallets associated with FTX and Alameda, and deposited into Binance and Coinbase
But that’s not all… pic.twitter.com/Dru4MysxfQ
— Nansen (@nansen_ai) October 27, 2023
On October 31, FTX linked 1.6 million Solana (SOL) tokens worth $56 million, which were split and sent to an unknown wallet. Another $32 million worth of 930,000 SOL linked to FTX and Alameda was transferred to another unknown wallet, presumably linked to Galaxy Digital, the official company designated to be responsible for the liquidation process.
930,000 $SOL Moved from @FTX_Official and @alamedaresearch Transferred Solana wallet to wallet 5RAHK in the past 3 days.
This is @novogratz The wallet is @galaxyhq Galaxy Investment Partners?
930,000 $SOL From FTX and Alameda to wallet via this wallet:
-3ADzk
-5sTQ5
-Ca469
-8CAAy… pic.twitter.com/LXecevHUqz— MartyParty (@martypartymusic) October 31, 2023
Data aggregated by Spotonchain shows that a total of $78 million worth of assets were sent to cryptocurrency exchanges from FTX and Alameda wallets in the past week.
Wallets associated with FTX have continued to send their stored altcoins to cryptocurrency exchanges over the past month following a court-ordered phase-out of liquidation proceedings. The court order allows FTX to sell more than $3 billion worth of digital assets in bulk each week through investment advisers in accordance with pre-established rules.
The phased-out liquidation process will allow FTX to sell $50 million worth of assets each week, with a $100 million cap set in place over the next few weeks. Subject to court approval and with the prior written consent of the creditors committee and the special committee, the cap may be increased to $200 million per week.
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