• Alameda Research, a crypto trading firm linked to Sam Bankman-Fried, filed for Chapter 11 bankruptcy in November.
• Wallets linked to the firm suddenly resurrected and transferred millions of FTT tokens on February 7.
• Two wallets were involved in this transaction: one transferring $2 million worth of FTT from SushiSwap and the other opening a loan position on Abracadabra.
In November 2020, Alameda Research, a crypto trading firm connected to Sam Bankman-Fried, filed for Chapter 11 bankruptcy. The filing included FTX and other affiliated firms.
On February 7th 2021, wallets linked to Alameda Research came back to life and transferred millions of FTT tokens (the native FTX token). Two wallets were involved in this transaction: „brokenfish.eth“ which transferred $2 million worth of FTT from SushiSwap; and „Alameda Research 4“ which bought more than 1 million FTT tokens worth about $2.3 million and opened a loan position on Abracadabra mortgaging 73,000 FTT tokens and $31,000 cash.
This is not the first time that Alameda wallets have seen activity post the FTX bankruptcy filing. Immediately after Sam Bankman filed for bail earlier in February 2nd 2021, Blockchain security firm PeckShield alerted that „Alameda Consolidation“ had received $13 million worth of crypto assets from three different wallets. Arkham Intelligence also revealed that Alameda Research withdrew $204M ahead of its bankruptcy filing.
The activity from these wallets has caused some concern within the crypto community due to its unprecedented nature as well as its potential implications for investors’ funds tied up with the bankrupt company’s assets.
It remains unclear what will happen with these funds or how it could affect those who had their money invested with Alameda Research before it declared bankruptcy. It is important to keep an eye on developments regarding this situation so that investors can be informed about any new developments or outcomes related to these wallet transfers or their associated funds moving forward.