Bitfinex Transfers $8.5M to Alameda Consolidation Address


PeckShield, a company that provides blockchain protection, has made public a bunch of transactions from three addresses, among them one from cryptocurrency exchange Bitfinex to Alameda Research’s consolidation wallet.

In addition, etherscan claims that three different wallets sent a total of $13 million in cryptocurrency to the address “Alameda Consolidation.”

The first is owned by the top cryptocurrency exchange Bitfinex. In these transactions, a total of  6 million USDT and 1,545 ether (ETH) were exchanged, totaling almost $8.5 million.

Another $6 million worth of USDC was transferred to the Alameda Consolidation address by other anonymous individuals.

Although the reason for the transfer of monies from Bitfinex to Alameda is unknown, the transactions have prompted inquiries regarding the ties between the two businesses.

Alameda’s Attempts to Recover Money

According to a Wall Street Journal (WSJ) investigation that was published earlier, Alameda Research, a sibling crypto exchange of FTX, allegedly struggled from the moment it was formed. The article that cited multiple sources, including former employees, states that the collapse of Alameda was inevitable, and the crisis began long before the FTX existed. The research claims that Alameda’s initial large transaction was an arbitrage in Japan, where Bitcoin was being offered for a higher price than in other nations.

Moreover, Alameda has been attempting to recover money ever since its parent firm FTX declared bankruptcy in November 2022. The trading company filed a lawsuit against Voyager Digital last week in an effort to recoup the $446 million it paid to the insolvent crypto lender.

Despite efforts to raise money, Alameda’s liquidators suffered losses of $11.5 million in the first two weeks of January, according to a report.

Notably, Bitfinex had pledged to support a number of initiatives and projects. In July of last year, Bitfinex donated 36 Bitcoin (BTC) units worth around $726,000 and 600,000 Tether (USDT) to small enterprises and entrepreneurs. The action fits in with its promise to foster economic expansion.


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