Wallets linked to trading companies exchange multiple ERC-20 tokens against USDT and ETH before transferring assets to ChangeNow, FixedFloat and Binance.
The wallet of the crypto trading company Alameda Research has recently been involved in some suspicious transactions as it is conducting exchange transactions, converting many ERC-20 tokens to USDT and ETH. The converted assets were sent from multiple addresses to ChangeNow, FixedFloat, and Binance.
Blockchain repository Peck Shield revealed the development in a tweet today. According to Peck Shield, Alameda made the customers using two ETH addresses, and the addresses started trading multiple tokens yesterday at 9:05 pm (UTC). Trademarks include SUSHI, AAVE, UNI, LINK, LDO and many others. Most of the tokens are small, except for LDO, which is worth $700,000. Everyone behind the transaction exchanged all tokens for USDT and ETH.
Following the changes, the addresses transferred USDT and ETH to several newly installed addresses. USDT tokens were transferred from these addresses to FixedFloat and Binance, while ETH tokens went to ChangeNow. The development raised questions in the crypto space, especially given Alameda’s current situation.
Crypto monitoring system Lookonchain estimated the value of transferred assets at $1.5 million, including 411 ETH worth $491,000 and $1 million in USDT. Famous crypto sleuth ZachXBT revealed that many of those assets were exchanged for BTC, sharing four newly minted BTC addresses.
Due to Alameda’s ongoing bankruptcy process, many advocates have indicated that there may be a potential for liquidation in the recent funding movement. However, these claims have been generally refuted, because government payers will not use ChangeNow and FixedFloat for this type of money. Relocation of assets from multiple newly installed addresses also contradicts the claim.
Others believe that SBF may be looking to invest in the remaining assets he left after his release from prison. Recall that FTX founder and former CEO Sam Bankman-Fried was recently released on $250 bail, as previously reported. Nji is different from real because it does not require the defendant to pay anything as long as he appears in court as requested.