On the 29th of December, several blockchain analysts revealed that wallets linked to Alameda Research, a sister entity of the FTX exchange, continued to shuffle around crypto funds. According to blockchain analysts, these wallets used coin mixers to obscure transactions. O the 28th of December, these wallets were spotted swapping obscure tokens for Bitcoin and Ethereum along with stablecoin Tether.
According to Arkham, a crypto intelligence firm, more than $1.7 million worth of crypto was traded in the past 24 hours. Some of the funds are being put through coin mixers, the apps which anonymize crypto transactions and hide their origins, as per Arkham. And today, that effort to obscure the movement of coins is continuing.
In a Twitter post, another blockchain data analyst, ZachXBT, revealed that the Bitcoin was put into Wasabi, a popular wallet that groups Bitcoin transactions to conceal their origins. However, it remains unclear who is behind the transactions, but according to ZachXBT, it doesn’t look like a liquidator that would use tools like ChangeNow and FixedFloat to rapidly exchange funds.
It’s not the first time that there is movements of FTX-linked crypto funds through wallets, as since the collapse of FTX, which was once the biggest crypto exchange in the world and now is nothing, there have been many mysterious movements. On the 11th of November, when FTX filed for bankruptcy protection, hundreds of millions of dollars in digital assets were drained.
It is still unclear who took that massive funds, but according to counsel to FTX’s new management, James Bromley, this substantial amount of the exchange’s assets are missing or have been stolen. Moreover, the US Department of Justice has also been investigating the funds stolen incident. Despite this investigation, the wallets linked to Alameda Research continued to shuffle around crypto funds and have been using coin mixers to obscure transactions.
