SBF allegedly moves $684,000 into Seychelles exchange, RenBridge

Hull Invest

on-chain data The founder of FTX Sam Bankman-Fried (SBF) has moved $684,000 worth of Ethereum (ETH) to RenBridge and the Seychelles-based exchange over the past two days.

on twitter threadon-chain detective BowTiedlguana claimed that SBF transferred $684,000 worth of Ethereum (ETH) to the Seychelles-based exchange and RenBridge.

BowTiedlguana suggested that these transactions, allegedly carried out by SBF, may have violated his bail conditions. Under the terms of the SBF’s $250 million bail, the disgraced former cryptocurrency mogul is restricted from conducting transactions above his $1,000 without court approval.

On December 28, SBF announced his public wallet by sending 0.6659 ETH (valued at about $806.51 at the time) will be sent to the newly created address according to Etherscan. data.

This newly created address received approximately 185.1928 ETH on-chain from a wallet tagged as Alameda Research within hours. data indicate. The now-defunct hedge fund Alameda Research, owned by his SBF, filed for bankruptcy along with FTX on Nov. 11. Additionally, the new wallet received 384.95 ETH (approximately $458,348) from various wallets.

According to Etherscan on-chain data, 519.95 ETH was transferred from the new wallet to addresses that also received funds from the Alameda Research wallet. This third wallet of his sent the funds to a centralized exchange in the Seychelles by routing the transaction. via Another purse, BowTiedlguana claimed. A portion of the funds were also sent to the Bitcoin network via RenBridge, funded by Alameda Research.

Additionally, according to BowTiedlguana, $200,000 worth of Tether (USDT) was transferred from SBF-linked wallets to the FixedFloat exchange.

The deal comes weeks after SBF claimed it had only $100,000 in its account and was worried about how to pay its lawyers. The corrupt crypto founder, whose net worth was reduced to zero by Forbes the week of December 19, is expected to enter a plea deal in New York’s Southern US District.

Judge Ronnie Abrams, who was supposed to preside over the SBF’s criminal trial, resigned on December 23, citing a potential conflict of interest. Bill Clinton-appointed judge Louis Kaplan was then assigned to the SBF case on December 27.

SBF faces multiple counts of wire fraud, money laundering, securities fraud, and commodity fraud. price From the Department of Justice. US Securities and Exchange Commission (SEC) says SBF is “engaging years of massive fraud” by rerouting billions of dollars in FTX user funds for personal gain criticized.

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