Bitfinex sends $8.5M in crypto to Alameda’s wallet in last 24 hours

A Bitfinex-related wallet sent over $8 million worth of crypto assets to bankrupt Alameda Research’s wallet in the last 24 hours, according to Arkham Intelligence data.

The crypto exchange’s wallet made four transactions — which included $6 million USDT and 1545 ETH (roughly $2.52 million) — to the bankrupt firm’s wallet. Bitfinex initially sent less than $100 worth of AAVE and USDT to Alameda.

Bitfinex Alameda
Source: Arkham Intelligence

Bitfinex is a crypto exchange owned by the parent company of stablecoin issuer Tether, iFinex Inc.

A Bitfinex and Tether spokesperson told CryptoSlate that:

“Alameda had an account on Bitfinex and Bitfinex is collaborating with the liquidators to return what’s left.”

Tether’s CTO Paolo Ardoino previously denied any exposure to FTX or Alameda. The stablecoin issuer has repeatedly insisted that its business was not impacted by the contagion that has capitulated several crypto firms.

Meanwhile, the reason behind the transfers is currently unknown, as it appears that the wallet is consolidating assets from different on-chain sources.

The wallet also received $4.6 million from an unknown wallet and has received at least 100,000 Lido (LDO) tokens from other Alameda-related wallets in the last three days.

A look at the wallet assets showed that its largest crypto holding was 100 million BitDAO (BIT) tokens worth $55.14 million. Its other holdings included 15,848 Ethereum worth $26.5 million, $36.4 million USDC, $47.1 million USDT, and altcoins like Render (RNDR), FTT, Serum (SRM), etc.

Cumulatively, it holds crypto assets worth $222 million.

Court filings showed that the liquidators had recovered over $5 billion in assets belonging to FTX and its related entities. The wallet’s transaction history further suggested that the liquidators have recorded more success in recovering the bankrupt firms’ assets.

Despite these successes, Alameda liquidators have lost over $11 million to DeFI liquidations after taking over one of the wallets of the bankrupt firm.

(Added Bitfinex and Tether spokesperson update)

Posted In: Bankruptcy, Wallets

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