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Thirty cryptocurrency wallets linked to Alameda Research, the bankrupt sister company of crypto exchange FTX, became active on December 28 after four weeks of inactivity. These wallets exchanged and mixed over $1.7 million worth of crypto assets through various crypto-mixing services.
Crypto mixers are often used by market exploiters and criminals to obscure transaction paths and prevent funds from being traced back to their original source.
As Cointelegraph reported on December 28, the sudden removal of funds from Alameda’s wallet just days after Sam Bankman-Fried was released on bail has sparked suspicion throughout the cryptocurrency community. Nearly 24 hours later, the culprits behind these transfers appear to have used extensive planning to hide their trading channels.
according to data The first money transfer, shared by crypto-forensics group Arkham, began with multiple Alameda addresses exchanging tokens for Ether (ETH)/Tether (USDT) and sending them to a crypto mixer. Most of these transfers were tracked to his two main wallets starting with 0xe5D and 0x971.
Tokens from the Alameda wallet were sent first to addresses starting with 0x738 and then to address 0x64e. This 0x64e wallet splits the ETH and sends it to smaller wallets, typically $200,000 and $50,000. It was then sent to mixers like Fixedfloat and ChangeNOW.
A separate wallet was used for swapping stablecoins, and the wallet’s assets were first swapped to USDT and then sent to Fixedfloat. A total of 800,000 USDT was exchanged using mixers and another 400,000 USDT was poured in other ways. An additional 200,000 USDT worth of stablecoins have been sent to the BTC network using renBTC.
Related: What to expect from cryptocurrencies in the year after FTX
In total, $1.7 million worth of funds were swapped and sent through various mixing services, including:
- 270.5 ETH (~$325,000) through ChangeNOW
- 800,000 USDT in fixedfloat
- 200,000 USDT (into native BTC) through Curve SynthSwap
- 200,000 USDT for air swap
- 200,000 USDT through other crypto mixing services
The movement of funds from Alameda wallets collected through mixing tools has generated a lot of buzz in the cryptocurrency community. While many question the timing of the funds transfer, others question the use of mixing services and the inability of authorities to prevent such things, even though the matter is with the lower courts. points out.
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