Bankrupt Alameda Research Wallets Resurrect, Transfer Millions of FTT Tokens

• Alameda Research, a crypto trading firm linked to Sam Bankman-Fried, filed for Chapter 11 bankruptcy in November.
• On February 7th, wallets linked to the firm suddenly resurrected and transferred millions of FTT tokens.
• PeckShield and Arkham Intelligence have reported that the wallets were active prior to the bankruptcy filing and withdrew millions of dollars worth of cryptos.

Alameda Research Files for Bankruptcy

Alameda Research, a crypto trading firm owned by Sam Bankman-Fried, filed for Chapter 11 bankruptcy in November. This is a reorganization process that allows companies with debt problems to restructure their debts while continuing to operate as normal.

Wallets Resurrected Post-Bankruptcy

On February 7th, wallets linked to Alameda Research suddenly came back to life and transferred millions of FTT tokens (the native FTX token). Two wallets were involved in this recent transaction – „brokenfish.eth“ which made a transfer of FTT tokens worth $2 million from the BentoBox smart contract on SushiSwap, and „Alameda Research 4“ which bought more than 1 million FTT tokens worth about $2.3 million before opening a loan position on Abracadabra mortgaging 73,000 FTT tokens and $31,000 cash.

Previous Activity Prior To Bankruptcy

This isn’t the first time that Alameda wallets have seen activity since FTX’s bankruptcy filing – Blockchain security firm PeckShield alerted that „Alameda Consolidation“ had received $13 million worth of crypto assets from three different wallets prior to its bankruptcy filing on February 2nd. Arkham Intelligence also reported that Alameda Research had withdrawn $204M ahead of its filing.

Concerns From The Crypto Community

The activity surrounding Alameda’s post-bankruptcy wallets have raised some concerns from members within the crypto community as it appears that certain individuals may be able to benefit from these transactions despite being part of a bankrupt company. It is unclear what these funds are being used for at this point in time but there are sure to be further developments as investigations continue into what happened with these funds prior to and after the bankruptcy filing took place.

Conclusion

In conclusion, Alameda Research’s sudden resurrection has raised many questions within the crypto community due its involvement in large scale transfers both pre-and post-bankruptcy filings taking place recently. It is unclear how these funds will be used or if any parties will benefit from them but further investigations are sure to follow in order to understand what happened exactly during this period of time leading up until now regarding these large transfers taking place involving Almeda Research’s associated accounts and wallets.