Crypto wallets associated with the now-defunct FTX exchange and its sister company, Alameda Research, have been active in transferring substantial digital assets totaling over $38.8 million to various cryptocurrency exchanges since January 2024, according to data from blockchain analytics firm PeckShield.
In February, these wallets were particularly active, with transfers totaling at least $7 million.
On February 4th, approximately $2.6 million in Ether was sent to Coinbase, and around $1.1 million in Ton (TON) and Fantom was transferred to FalconX and Wintermute.
On February 6th, the wallet addresses moved a minimum of $3.3 million in various assets to Coinbase, Coinbase Prime, FalconX, and Binance.
In January, these same crypto wallets linked to FTX and Alameda initiated transfers of at least $35 million to exchanges. On January 4th, they transferred $4.1 million in Cronos to Coinbase.
Shortly after, another $2.4 million in ETH was sent to Coinbase, followed by a transfer of 200 Wrapped BTC (WBTC) valued at $9 million to Binance on January 9th.
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Later in January, FTX and Alameda continued their transfers, moving an additional $16.3 million to various exchanges.
On January 17th, addresses connected to these organizations sent $8.9 million in Tether Gold (XAUT) to Coinbase and $2.6 million in ETH to Wintermute.
Towards the end of the month, on January 30th, they transferred $2.3 million in ETH to Coinbase, $1.3 million in various altcoins to Binance, and a $1.28 million sum to GSR Markets.
These transactions unfolded against the backdrop of FTX exchange’s ongoing restructuring efforts and its commitment to fully reimburse its customers.
In a U.S. court hearing on January 31st, the exchange announced its intention to focus on repaying customers but emphasized that this objective was not guaranteed, raising concerns and skepticism among critics.
Following the hearing, criticism escalated, with former United States Securities and Exchange Commission official John Reed Stark describing the restructuring plan as a “highway robbery of highway robbers” on February 4th.
The plan’s perceived prioritization of legal team profits sparked further controversy within the cryptocurrency community.
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