Previously, analysts had monitored the movement of funds tied to the digital wallets of SBF and Alameda, with an estimated value of over $1 million. In November, after SBF left FTX and filed for Chapter 11 bankruptcy protection, hackers stole between $370 million and $400 million in cryptocurrency assets from the exchange's wallets. FTX's official Telegram admins reported the unauthorized access.
There have also been reports that Alameda wallets became active shortly after SBF was granted bail. SBF claimed in a tweet that he "couldn't be moving any of those funds" as he no longer has access to them.
However, the crypto community has expressed skepticism about SBF's claims. A verified Twitter account, BanklessHQ, tweeted that Bahamanian officials had instructed SBF and FTX co-founder Gary Wang to transfer nearly $296 million of digital assets to a single Fireblocks wallet.
Cyber threat analyst Chet Long has clarified that the $296 million transfer mentioned in the BanklessHQ tweet occurred in November, directly after the Chapter 11 filing. Long stated that the claim does not explain the recent on-chain activity.
Analysis of SBF's Crypto Transactions and the FTX Hacking Scandal
The US Department of Justice (DOJ) is investigating a series of crypto transactions linked to Sam Bankman-Fried (SBF), the former CEO of FTX and Alameda Research. Analysts have monitored these transactions and estimate their total value to be over $1 million.
In November, hackers stole between $370 million and $400 million in cryptocurrency assets from FTX's wallets shortly after SBF left the company and filed for Chapter 11 bankruptcy protection. The hacking scandal was brought to light when FTX's official Telegram admins reported unauthorized access.
Reports have revealed that Alameda wallets became active after SBF was granted bail. SBF has claimed that he no longer has access to these funds and, therefore, "couldn't be moving any of those funds."
The crypto community, however, has expressed skepticism about SBF's claims. BanklessHQ, a verified Twitter account, tweeted that Bahamanian officials had instructed SBF and FTX co-founder Gary Wang to transfer nearly $296 million of digital assets to a single Fireblocks wallet.
Cyber threat analyst Chet Long has clarified that the $296 million transfer mentioned in the BanklessHQ tweet actually occurred in November, directly after the Chapter 11 filing. Long stated that the claim does not explain the recent on-chain activity.
