Crypto Wallets Tied to FTX Abruptly Move Over $102,000,000 To Binance, Coinbase and Kraken

Crypto wallets associated with the collapsed FTX exchange have been spotted moving over $100 million to major exchanges.

According to the blockchain-tracking firm Lookonchain, three addresses related to FTX and its trading arm Alameda are making millions of dollars worth of stablecoin transfers.

“The 3 addresses related to FTX/Alameda transferred 69.64M USDT to the address ‘0xad6e’, among which 43M USDT was transferred to Coinbase, Binance and Kraken.

And transferred 75.94M USDC to Coinbase Custody Wallet.”

Lookonchain says the three addresses sent $69,640,000 worth of Tether (USDT) to one address, “0xad6e.” Then, $43,000,000 worth of that USDT was sent to top crypto exchanges Coinbase, Binance, and Kraken. Finally, $75,940,000 worth of Circle’s stablecoin, US Dollar Coin (USDC), was sent to a Coinbase Custody wallet.

Lookonchain also further clarifies the importance of these three wallets in the wake of 2022’s massive FTX crash.

“After the FTX/Alameda crash, all assets were collected at these 3 addresses…”

FTX filed for bankruptcy last November after its native asset collapsed, and it was forced to halt customer withdrawals. Former FTX CEO Sam Bankman-Fried is facing 115 years in prison after being accused of defrauding investors and mishandling customer assets.

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Featured Image: Shutterstock/mystel