$8.6M in Crypto Assets Transferred From FTX and Alameda to Binance
Recently, it was discovered that crypto addresses associated with FTX and Alameda were involved in a transfer of $8.6 million worth of cryptocurrency assets. This transaction caught the attention of Nansen, a company specializing in blockchain intelligence and analytics. According to Nansen’s analysis, the assets transferred included $2.2 million in chainlink (LINK), $1 million in aave (AAVE), $2 million in maker (MKR) tokens, and $3.4 million in ethereum (ETH).
The funds took a two-step journey, initially moving to one address before ending up in a wallet controlled by Binance, the world’s largest exchange by trade volume. Nansen speculated that this transfer was likely done to sell or prepare to sell these assets.
Notably, among the assets transferred, only ethereum (ETH) was listed as one of FTX’s top ten liquid crypto assets. This suggests that it held significant value and liquidity compared to other assets on the list.
Saga Unfolds: FTX Hacker’s Attempts at Concealment
This recent saga is part of a larger story involving an FTX hacker who previously moved tens of millions of dollars in crypto funds to decentralized finance (defi) applications as an attempt to cover their tracks. This prompted Thorswap, a decentralized exchange platform, to strengthen its defenses against such tactics.
While it is not confirmed, it is believed that the transfer of $8.6 million by FTX creditors was a strategic move for selling purposes. Additionally, FTX debtors have staked a significant amount of solana (SOL), aiming to benefit from staking rewards for their existing holdings.
Hot Take: FTX and Alameda Research Addresses Transfer $8.6M to Binance
A recent onchain analysis by Nansen revealed that crypto addresses associated with FTX and Alameda Research orchestrated a transfer of $8.6 million in cryptocurrency assets. The transferred assets included chainlink (LINK), aave (AAVE), maker (MKR) tokens, and ethereum (ETH). This movement did not go unnoticed, as Nansen detailed the transaction and speculated that it was likely done to sell or prepare to sell these funds.
Intriguingly, among the assets transferred, only ethereum (ETH) was listed as one of FTX’s top ten liquid crypto assets. This saga comes after an FTX hacker attempted to conceal their tracks by moving funds to defi applications, prompting Thorswap to enhance its defenses. It is believed that the transfer by FTX creditors was a strategic move for selling purposes, while FTX debtors have staked solana (SOL) to maximize their holdings’ rewards.
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