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March 14, 2023

Crypto Wallets Tied to FTX Abruptly Move Over $102,000,000 To Binance, Coinbase and Kraken

By Daily Hodl Staff

Crypto wallets associated with the collapsed FTX exchange have been spotted moving over $100 million to major exchanges.

According to the blockchain-tracking firm Lookonchain, three addresses related to FTX and its trading arm Alameda are making millions of dollars worth of stablecoin transfers.

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“The 3 addresses related to FTX/Alameda transferred 69.64M USDT to the address ‘0xad6e’, among which 43M USDT was transferred to Coinbase, Binance and Kraken.

And transferred 75.94M USDC to Coinbase Custody Wallet.”

Source: Lookonchain/Twitter

Lookonchain says the three addresses sent $69,640,000 worth of Tether (USDT) to one address, “0xad6e.” Then, $43,000,000 worth of that USDT was sent to top crypto exchanges Coinbase, Binance, and Kraken. Finally, $75,940,000 worth of Circle’s stablecoin, US Dollar Coin (USDC), was sent to a Coinbase Custody wallet.

Lookonchain also further clarifies the importance of these three wallets in the wake of 2022’s massive FTX crash.

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“After the FTX/Alameda crash, all assets were collected at these 3 addresses…”

FTX filed for bankruptcy last November after its native asset collapsed, and it was forced to halt customer withdrawals. Former FTX CEO Sam Bankman-Fried is facing 115 years in prison after being accused of defrauding investors and mishandling customer assets.

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Featured Image: Shutterstock/mystel