According to Cointelegraph, crypto wallets linked to the defunct FTX exchange and Alameda Research, its sister company, transferred over $38.8 million in digital assets to numerous crypto exchanges since January 2024.
With insights from PeckShield, a blockchain analytics firm, wallets linked to both organisations transferred about $7 million in February to exchanges. On February 4, 2024, the addresses moved $2.6 million in Ether (ETH $2,362) to Coinbase and about $1.1 million in Ton (TON) and Fantom (FTM $0.35) to FalconX and Wintermute. Furthermore, on February 6, 2024, the crypto wallet addresses moved about $3.3 million in various assets to Coinbase, Coinbase Prime, FalconX and Binance.
It is believed that the fund movements happened amid the fallen exchange’s restructuring efforts and unveiling its plans to fully repay its customers. On January 31, 2024, the defunct exchange said in a US court hearing that its restructuring plans would not include a re-launch of the exchange but would be focused on repaying its customers in full.
However, Andy Dietderich, attorney, FTX, mentioned that repaying customers was an objective, but not guaranteed, concluded Cointelegraph.
(With insights from Cointelegraph)