$1.7 Million Crypto Assets Mysteriously Swapped and Mixed by Alameda Research
• $1.7 million worth of crypto assets were swapped and mixed through various crypto-mixing services related to Alameda Research.
• 30 cryptocurrency wallets related to Alameda Research became active on 28 December following weeks of inactivity.
• Crypto assets were exchanged for Ether/Tether, and then routed through instant exchangers and mixers.
Crypto assets worth $1.7 million were swapped and mixed through various crypto-mixing services related to Alameda Research on 28 December. This movement of funds from the Alameda wallet via mixing tools caused quite a stir in the crypto community.
30 cryptocurrency wallets related to Alameda Research, the bankrupt sister company of crypto exchange FTX, became active after weeks of inactivity. Former FTX CEO Sam Bankman-Fried „SBF“ was granted bail the same day.
The funds began to move when tokens from the Alameda wallet were sent to an address beginning with 0x738, then to an address beginning with 0x64e. This 0x64e wallet then divided the ETH and sent it to smaller wallets, typically of $200,000 and $50,000. It was then sent to mixers like Fixedfloat and ChangeNOW. Another wallet was used to swap for stablecoins, with wallet assets first being converted into USDT and then sent to Fixedfloat. A total of 800,000 USDT was exchanged using mixers, with another 400,000 USDT sent to a separate address.
The crypto Twitter community quickly took notice of the fund transfers, speculating that SBF was attempting to launder the funds. However, many further transfers of smaller amounts were made from the Alameda wallet and the funds were eventually routed to various crypto-mixing services in an attempt to obscure their origin.
The movement of such a large amount of funds from the Alameda wallet is likely to spark further speculation, especially since SBF was granted bail on the same day. It remains to be seen what the ultimate purpose of the fund transfers was, and whether or not the funds will be returned to Alameda Research.