![FTX's Alameda Address Receives $13 Million in Crypto, Check Out Sender](https://u.today/sites/default/files/styles/736x/public/2023-02/30512.jpg)
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PeckShield Alert blockchain security company has announced on its Twitter handle that it spotted roughly $13 million in crypto transferred to a consolidation-labeled wallet that belongs to Alameda - a pocket trading firm of FTX founder Sam Bankman-Fried.
Bitfinex moves funds to Alameda wallet
Alameda Research is a trading company that belongs to the FTX exchange. Sam Bankman-Fried, the founder of FTX, tried to solve its liquidity trouble by using the funds of FTX customers. Both companies filed for insolvency in the first half of November last year.
According to the tweet, the aforementioned amount of crypto came in three transfers and in three coins – ETH, USDT and USDC. Around 6 million worth of USDT and 1,545 Ethereum (worth $2.5 million) were sent from crypto trading giant Bitfinex.
Roughly 4.6 million USDC were sent from an anonymous wallet ending in -0x7889.
PeckShield Alert has so far been unable to detect the aforementioned sender of USDC and has no explanation as to why Bitfinex would send roughly $8.5 million worth of cryptocurrencies to the consolidation wallet of the battered trading firm.
Besides, slightly over $65,000 in LDO token were sent from another Alameda wallet to the consolidation wallet.
#PeckShieldAlert ~$13M worth of cryptos have been transferred to Alameda consolidation-labeled address, including ~6M $USDT & 1,545 $ETH ($2.5M) from Bitfinex, ~4.6M $USDC from 0x7889
— PeckShieldAlert (@PeckShieldAlert) February 2, 2023
Wondering why Bitfinex transferred ~$8.5M worth of cryptos to Alameda consolidation address pic.twitter.com/YU8RNcrdxs
FTX intends to dump altcoins worth billions of USD
As covered by U.Today earlier, the current chief executive of bankrupt FTX crypto trader John Ray III and the team of liquidators, is planning to sell altcoins that have been recovered by them recently in order to reimburse multiple creditors of the exchange.
The sale of these altcoins is likely to bring the liquidators around $4.6 billion in fiat. Prior to that, they managed to locate a total of $5 billion in liquid assets belonging to the platform.
However, this is not enough to pay debts to all creditors. Therefore, the new FTX CEO now seeks permission to sell four of the company's subsidiaries, including FTX Europe and Embed Technologies.
Before the collapse, FTX declared the total number of creditors as 100,000. However, it may end up a lot more, coming close to one million of them.
Such a massive sell-off, though, could lead to a bearish wave on the market, making prices fall hard.