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Gungun Bhatia
Dec 29, 2022
by Gungun Bhatia

Alameda Wallets Transfer Over $1.7M Via Crypto Mixers Overnight

Alameda Wallets

Table of contents

  1. Funds Transferred Through Crypto Mixers
  2. The Transfer Procedure
On December 28, after four weeks of dormancy, 30 bitcoin wallets connected to Alameda Research, the insolvent sibling firm of FTX, started to function. Through different crypto-mixing services, these Alameda wallets exchanged and combined cryptocurrency holdings totaling over $1.7 million. Market manipulators and criminals frequently employ crypto mixers to obfuscate the transaction trail, making it difficult to identify the source of the cash.

Funds Transferred Through Crypto Mixers

According to a report from December 28, the abrupt transfer of money from Alameda wallets just a few days after Sam Bankman Fried was granted bail sparked concerns among the cryptocurrency community. It appears that the person responsible for these financial transfers spent a lot of time preparing how to conceal transaction paths almost 24 hours later.

The first flow of money started with numerous Alameda identities exchanging tokens for Ether/Tether and transferring them to crypto mixers, according to information provided by the crypto forensic organization Arkham. Most of these payments were traced to two primary wallets with the prefixes 0xe5D and 0x971.

The Transfer Procedure

After sending tokens to an address beginning with 0x738, the Alameda wallet then transmitted tokens to an address beginning with 0x64e. After that, the ETH is divided and sent to smaller wallets, typically worth $200,000 and $50,000, via this 0x64e wallet. It was then given to mixers like Fixedfloat and ChangeNOW.

Stablecoins were purchased via a different wallet, where wallet assets were first converted to USDT and then transmitted to Fixedfloat. Another 400,000 USDT was funneled through different means, for a total of 800,000 USDT that was exchanged utilizing mixers. The BTC network received stablecoins worth an extra 200,000 USDT via renBTC.

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Alameda Wallets Transfer Over $1.7M Via Crypto Mixers Overnight
Gungun Bhatia
Gungun is an enthusiastic writer that likes to create content for various aspects of the blockchain and crypto industry. She carries out extensive research and provides readers with informative and high-quality material.

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