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Alameda Research Wallets Trigger Concerns with FTT Transfers

Recent activity in Alameda Research's wallets raises questions about FTT token transfers amidst ongoing bankruptcy proceedings.
Published on 2023-02-08

Alameda Research Wallet Activity Raises Eyebrows

Wallets associated with the bankrupt Alameda Research have become active, sparking interest and concern within the crypto community. On February 7, these wallets transferred millions of dollars in FTX Tokens (FTT), causing many to question the oversight and security measures in place.

Significant FTT Transfers

The Alameda wallet, identified as ‘brokenfish.eth’, moved nearly $2 million worth of FTT tokens. These tokens were transferred from the BentoBox smart contract on SushiSwap, which serves as the main vault for SushiSwap's ecosystem. This movement has drawn attention due to the substantial value and the potential implications for stakeholders involved.

Historical Context and Concerns

Sam Bankman-Fried, the former CEO of FTX, has historical ties with SushiSwap, having taken over the protocol in 2020 from a previous developer. This background adds complexity to the ongoing situation, as stakeholders question how these wallets are accessed despite regulatory scrutiny following the FTX bankruptcy filing.

Implications for the Crypto Community

The recent activity involving Alameda’s wallets highlights broader concerns about security and governance within the crypto space. It underscores the need for robust regulatory frameworks to protect investors and maintain trust. As these developments unfold, the crypto community remains vigilant, seeking clarity and accountability from all parties involved.

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