Bankrupt Alameda Research Wallets Resurrect, Transfer Millions of FTT Tokens
• Alameda Research filed for Chapter 11 bankruptcy in November.
• Wallets linked to the firm have suddenly resurrected and transferred millions of FTT tokens.
• Two wallets were involved in the transfer, with one opening a loan position on Abracadabra.
Bankruptcy Filing of Alameda Research
In November 2020, Alameda Research filed for Chapter 11 bankruptcy alongside FTX and other affiliated firms. The crypto trading house was founded by Sam Bankman-Fried.
Wallets Linked To Alameda Resurrect
On February 7th 2021, two wallets linked to Alameda Research came to life and transferred millions of FTT (the native FTX token). The wallets were „brokenfish.eth“ which made a transfer of FTT tokens worth $2 million from the BentoBox smart contract on SushiSwap, and „Alameda Research 4“ which bought more than 1 million of FTT tokens worth about $2.3 million, as well as opening a loan position on Abracadabra mortgaging 73,000 FTT tokens and $31,000 cash.
Previous Activity Of Wallets
The wallets had previously been active immediately after Sam Bankman-Fried filed for bail; Blockchain security firm PeckShield alerted that „Alameda Consolidation“ received $13 million worth of crypto assets from three different wallets and Arkham Intelligence reported that Alameda Research withdrew $204M ahead of its bankruptcy filing.
Concerns From Crypto Community
The activity has caused concern within the crypto community; there is speculation around whether these activities are legal or not due to the company’s status as bankrupt entities.
This strange turn of events surrounding bankrupt wallets linked to Alameda Research is a puzzling development with many unanswered questions yet to be addressed by those involved in the transactions.