On-chain analysis suggests former FTX CEO Sam Bankman-Fried may have breached bail conditions

An in-depth analysis of the latest transactions by former FTX CEO Sam Bankman-Fried and the now-defunct venture capital firm Alameda Research suggests that SBF may have breached the terms of their bailout.

On December 27 – just days after Bankman-Fried was released from jail on $250 million bail – an address he personally Confirmed On his return in September 2020, he moved all his remaining properties to a new address.

FTX ex-CEO Sam Bankman-Fried may have breached bail conditions, on-chain analysis suggests

transactions moved about $800 Ethereum at an undisclosed address, where it received more than half a million worth of cryptocurrency from multiple addresses, many of which are known to be Alameda Research addresses.

Former FTX CEO Has denied No involvement in on-chain activity, but he claimed ownership of one of the addresses included in the tweet mentioned above. Also, according to the December 22 CBS News report goodBankman-Fried’s bail included a condition not to spend more than $1,000 without the permission of the court.

Dive deep into on-chain data

Since the start of its on-chain activity on 27 December, newly created address Has processed an astonishing 105 transactions – 52 on 27th December and 53 on 28th December. The addresses received a total of $690,641 worth of cryptocurrency, including 32 transfers from known Alameda Research addresses worth a total of $367,083.

FTX ex-CEO Sam Bankman-Fried may have breached bail conditions, on-chain analysis suggests
The transactions were submitted by the newly created address which received $800 from a known Bankman-Fried address. , Courtesy of Arkham Intelligence

The new address only sent five spend transactions, but those drained all of its funds and left the wallet empty. The bulk of this was sent to two addresses, one starting with 0xE5cC0 which received transactions of $60,450 and the other starting with 0x64e9B which received transactions of $605,280 and $24.080.

Former FTX CEO Sam Bankman-Fried may have breached bail conditions, on-chain analysis suggests
The two transactions on the left were only worth $120 and were likely sent from those addresses for transaction fees and withdrawals. The transactions on the right are cumulatively worth approximately $690,000. , Courtesy of Arkham Intelligence.

The 0xE5cC0 address (which received $60,450) sent only one transaction and sent its entire balance to another address, which had made over one million transactions since April 21, 2021. Even filtering for transactions made since December 27, the address sent well over 6,824 transactions – 3,331 of them being spend transactions. Unfortunately, tracking this transfer beyond this is far from trivial.

On the other hand, that address is also a newly created address, which showed no activity prior to December 27. The 0x64e9B address received a total of 30 inbound transfers in digital assets worth $4.169 million, including a new address that confirmed $800 was sent to the Bankman-Fried address. This total may exceed the funds that were settled by this address, given that many incoming transactions were returning MetaMask and Uniswap (UNI) swaps.

The transfer to address 0x64e9B involved a total of over $860,000 worth of digital assets that were immediately moved to exchange fixed floats. This breaks transaction changes, as a centralized custodian exchanges those funds for a different digital asset. Another notable outbound transaction was the transfer of $186,000 to a null address in renBTC, a way to move tokens between blockchains.

Did Sam Bankman-Fried Breach Bail Conditions?

On-chain data and earlier tweets from FTX indicate that he moved approximately $800 worth of digital assets to an address that was then included in the Almeida Research address extraction. While this suggests that Bankman-Fried was likely behind those transactions, there is no easy way to prove that she only sent $800 worth of cryptocurrency to the address that just happened and Almeida. Research and other important transfers were also received.

The transaction clearly and indisputably linked Bankman-Fried, just $200 shy of his $1,000 limit. Still, we can’t be sure that he doesn’t have any such permission. His refute this Making any transfers makes it less likely that those transactions were of a legal nature and that they had a judge’s permission to transfer any significant amount of money. Still, without further investigation, perhaps by law enforcement, it can’t be said whether he had or not.

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