– FTX founder Sam Bankman-Fried (SBF) has reportedly cashed out $684,000 from a crypto exchange in Seychelles while under house arrest

The alleged cash out was discovered through an on-chain investigation by DeFi educator BowTiedIguana

The investigation suggests that SBF may have violated release conditions that restricted spending to no more than $1,000 without permission from the court

The cash out occurred through a series of obfuscated wallet transactions involving SBF's public address and a newly created address previously owned by Sushiswap creator Chef Nomi

The newly created address received transfers totaling $367,000 from 32 addresses identified as Alameda Research wallets and an additional $322,000 from other wallets

The funds were then sent to a centralized crypto exchange in Seychelles and to crypto bridge RenBridge

The SBF-linked wallet also sent three tranches of 200,000 Tether (USDT) to the FixedFloat exchange

The transactions occurred approximately one week after SBF was granted bail with a $250 million bond secured by his parents' house equity

The news follows the Bahamian government's seizure of $3.5 billion worth of crypto from FTX in November amid concerns about the "imminent dissipation" of funds after SBF warned about potential cyberattacks on the platform.