US Authorities looking into Transactions from Alameda, SBF wallets

FTX’s infamous founder is currently out on bail, but there have been numerous questionable transactions of cryptocurrency from wallets associated with him or his exchange and its sister company, Alameda.

Several Alameda wallets that were identified as such on Etherscan were reportedly moving ERC-20 tokens and trying to bridge them to BTC last week. The assets it includes are such as YFI, AAVE, and WETH. 

According to Bloomberg, US federal prosecutors from the Southern District of New York are trying to figure out who is behind the mentioned financial assets. 

They are likely investigating if Bankman-Fried is attempting to move his own assets around or cashing them out without permission if he is the one conducting the transactions. 

However, SBF clarified on Twitter after three weeks of silence that he does not have access to these accounts. He states: 

“I believe it is likely the case that various legit legs of FTX have the ability to access these funds; hopefully that’s what’s happening here. If not, hopefully one steps in soon to do so. I would be happy to help advise regulators on this if any wanted.”

FTX Founder not Allowed to deal with Money

It was recently surfaced that SBF had made more transactions, following which he allegedly cashed out about $684,000 worth of cryptocurrency. 

It is important to look at the fact that he previously stated he had only $100,000 left in his bank account after declaring bankruptcy, and the legal ruling explicitly prohibits him from operating with such large sums..

Bankman-Fried was arrested and jailed in the Bahamas Fox Hill Prison on allegations of wire and securities fraud, as well as money laundering. After his extradition to the US, he was subsequently released on a $250 million bail under some restrictions. If found guilty of all counts, the disgraced ex-ceo could spend up to 115 years behind bars.