FTX founder reportedly cashes out $684K after being released on bail

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

[{"selector":"#anim-0050ad8f-a6da-47c4-a8c1-ee9d413292aa","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d5df893b-a676-47a9-9511-c379c908e5dc [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] The alleged cash out was discovered through an on-chain investigation by DeFi educator BowTiedIguana

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[{"selector":"#anim-26134a39-f9bc-446b-971a-36445721d9ae","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-17ff10b3-f3d2-43fa-a4c6-69bf98f777db [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] 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

[{"selector":"#anim-f0bd6bb3-5fb2-4605-96bf-4eae8d86d61d","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-3afd6434-51f6-49f2-8140-28354760cc2b [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] 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

[{"selector":"#anim-cd1b1613-0dea-43c8-8667-a75848315ed9","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c33c214f-29e4-4931-9bca-06a27dae531e [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] The funds were then sent to a centralized crypto exchange in Seychelles and to crypto bridge RenBridge

[{"selector":"#anim-cb53795c-d26c-46df-b232-999c7bbbd656","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-75aed085-7fb1-4175-b733-ce848198fafa [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] The SBF-linked wallet also sent three tranches of 200,000 Tether (USDT) to the FixedFloat exchange

[{"selector":"#anim-4233d9fb-2d8b-44b5-9218-6b9a9d167ebb","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-941f7d84-cc51-42f2-9fa9-2ef27f989688 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] The transactions occurred approximately one week after SBF was granted bail with a $250 million bond secured by his parents' house equity

[{"selector":"#anim-082b5711-8ede-4a05-8c6a-27d0d7fe13ea","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1517480d-6d9c-4589-b8c9-898ad6cdff2c [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] 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. Learn more