According to the reports, the bankrupt sister of the fraud crypto exchange FTX, Alameda Research wallets, transferred over $1.7 million via crypto mixers. Thirty of the crypto wallets linked to the firm became suddenly active on Dec 28 2022, after four weeks of inactivity, swapped and mixed over 1.7 million dollars worth of crypto assets. Usually, crypto mixers are used by market exploiters and criminals to obscure the transaction path so that the funds cannot be traced to the source.
Crypto mixers were used to hide transaction routes
As reported by Cointelegraph on 28th December 2022, the sudden movement of funds from the Alameda Research wallets just a few days after SBF was released on bail raised suspicions across the crypto community. For nearly 24 hours, the culprit behind these transfers used extensive planning to hide the transaction routes so they couldn’t be traced.
According to the data shared by Arkham, a crypto forensic group, the first transfer of the group began with multiple Alameda addresses swapping the tokens for ETH or Tether and sending them to the crypto mixers. Most of these transactions were tracked to two leading wallets starting with 0xe5D and 0x971.
Another wallet was used to swap for stablecoins, where wallet assets were first converted into USDT and then sent to the crypto exchange, FixedFloat. A total of 800,000 USDT was swapped using mixers, while another 400,000 USDT was funnelled via other methods. Also, an additional 200,000 USDT worth of stablecoins were sent to the BTC network using renBTC.
$1.7M worth of crypto assets were swapped
As per the reports, a total of 1.7 million USD worth of funds were swapped and sent through different crypto-mixing services, including 270.5 ETH through ChangeNow, 800,000 USDT through FixedFloat, 200,000 USDT through Airswap, 200,000USDT through Curve SynthSwap to native BTC and the remaining amount through other crypto mixing services.
The movements of this huge amount of funds from the Alameda wallet funnels through the crypto-mixing tools created quite a buzz across the crypto community. Many people started questioning the timing of these funds transfers while pointing towards the use of the crypto mixers and the inability of the authorities to prevent such a thing despite the matter being sub-judice.
What are your thoughts as Alameda Research wallets transferred over $1.7 million via crypto mixers? Do you have questions regarding mixing services and the inability of authorities to prevent their use? Let us know in the comments below. And, if you find our content informative, share it with your family and friends.
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