Wallets associated with the collapsed FTX and Alameda Research have transferred $10.8 million worth of cryptocurrencies to accounts on exchanges like Binance and oinbase">Coinbase.
Blockchain">Blockchain tracker Spot On Chain detected the latest movement, which spanned 8 tokens – including UniSwap’s UNI, StepN’s GMT, and Shiba Inu’s SHIB.
Analysts estimate FTX and Alameda have shifted approximately $551 million in crypto since declaring bankruptcy in November. Previous transfers similarly went to trading platforms.
While attempting to recover assets for investors, the troubled firms’ unpredictable wallet movements spark concerns around fund security.
Both companies currently face liabilities exceeding remaining assets, with massive shortfalls still impacting users. The ongoing bankruptcy and lawsuits cast doubt around recoveries.
