Bankman-Fried Accused of Moving Crypto Worth $684K
- Bankman-Fried took to Twitter on Friday to dismiss claims that he was behind the transfers, noting that he does not have access to the funds.
- Crypto users suggested that Bankman-Fried had violated his bail conditions by engaging in transactions worth more than $1000.
- The controversial transfers come a week after Bankman-Fried was granted bail and ordered to live with his parents.
A week after being granted bail, former FTX CEO, Sam Bankman-Fried is accused of moving cryptocurrencies worth $684,000 via a Seychelles-based exchange. DeFi analyst BowTiedIguana took to Twitter to report a number of transactions from a wallet that allegedly belongs to SBF, raising the possibility that the 30-year-old had broken release conditions that prohibited him from spending more than $1,000 without a court order.
BowTiedIguana’s analysis indicates that Bankman-Fried’s public address (0xD5758) moved all existing Ether to a new address (0x7386d). Transactions totaling $367,000 were reportedly sent to 0x7386d from 32 addresses that had been identified as belonging to Alameda Research wallets within hours. Another $322,000 was sent from other wallets, according to the DeFi researcher. Furthermore, all funds were moved to RenBridge and the Seychelles-based exchange.
BowTiedIguana called on US regulators and attorneys to investigate the transactions for possible violations. The analyst wrote,
As the Ethereum blockchain is an immutable public ledger, this on-chain evidence is permanently available to law enforcement and the courts.
Some crypto users argued that whether or not the transactions belong to Bankman-Fried, the former billionaire might not be in violation of bail conditions. Other users noted that the transactions should not be classified as spending since the assets belong to the FTX founder.
Bankman-Fried later took to Twitter to deny transferring the said funds, adding that he does not have access to them. He wrote,
None of these are me. I’m not and couldn’t be moving any of those funds; I don’t have access to them anymore.
None of these are me. I'm not and couldn't be moving any of those funds; I don't have access to them anymore.https://t.co/5Gkin30Ny5— SBF (@SBF_FTX) December 30, 2022
The controversial transactions come a week after Bankman-Fried was released on a $250 million bond and ordered to live with his parents in California. The disgraced entrepreneur had previously claimed he was left with a mere $100,000 in his bank account following the surprising FTX collapse. Only a few weeks ago, Bankman-Fried had a net worth of more than $15 billion. His fortune changed for the worse last month after FTX ran into a liquidity crisis and had to file for bankruptcy.