Arkham Intelligence, a company that specializes in blockchain analytics, disclosed that Alameda Research had withdrawn $204 million from FTX.US prior to the exchange’s failure. This made Alameda Research the entity that had withdrawn the most funds out of a list of entities that also included Yuga Labs and Genesis.
Since the FTX cryptocurrency exchange was shut down on November 6, its sister firm, Alameda, has moved a combined total of $204 million worth of different cryptocurrencies to eight other addresses.
Alameda, FTX exploiter, and Amber Group were the top three entities that withdrew the most cash from FTX’s US company. Alameda took out $49 million, while Amber Group took out $40 million.
Because $142.4 million of the assets were moved from FTX.US wallets to FTX International wallets, it is very probable that Alameda was functioning as a conduit between FTX.US and FTX International.
The majority of the withdrawals from Alameda were made in USD-pegged stablecoins, Ethereum, and Wrapped Bitcoin.
According to the reports, 57.1% of the cash that were removed were in USD stablecoins, totaling 116 million dollars (USDT, BUSD, TUSD, and USDC). The vast majority of the cash were transferred to FTX, while an additional $10.4 million USDT was sent to the competing exchange Binance.
Alameda withdrew $38.06 million worth of wrapped Bitcoin (wBTC), which was subsequently bridged in its whole to the Bitcoin Blockchain. This transaction represented 18.7% of Alameda’s total withdrawal.
Twenty-four and a half percent of the $49.39 million in ETH was transferred to an undisclosed huge active trading wallet called 0xa20. This wallet is now engaged in OTC trading and is still making token transfers.
Compiled by Coinbold
