Defi analyst claims SBF cashed out $684k despite legal restrictions

Pseudonymous DeFi analyst BowTiedIguana shared his investigation and found that FTX co-founder SBF violated his $250M court bail agreement. 

Sam Bankman-Fried (SBF) is the former CEO & founder of the FTX crypto exchange. SBF used the FTX exchange funds for personal benefits in multiple ways & also funded his other crypto hedge firm Alameda Research, which was unethical. In early Nov 2022, FTX collapsed badly. Finally, on 11 Nov, FTX filed for bankruptcy in a US district court along with more than 100s of its affiliated companies. 

Last week, SBF secured bail from the court on behalf of collateral of a $250M bond agreement. At present, SBF is not allowed to spend more than $1000 without court permission. 

On 30 Dec, Pseudonymous DeFi analyst and educator BowTiedIguana shared a full investigation that he did on SBF-owned crypto addresses. 

Defi analyst noted that SBF received transfers summing up to $367,000 from 32 addresses identified as Alameda Research wallets. Furthermore, an additional $322,000 came from other wallets.

Investigator also shared a 2-year-old Tweet where SBF acquired the ownership of the mentioned Crypto address & linked new address.

The investigation also noted that in all the processes, Alameda Research’s crypto transactions were involved, and also SBF did this work without a KYC barrier.

Investigator also urged people to report this thing to the United States Securities and Exchange Commission (SEC) attorneys, so that enforcement agencies can take suitable action against SBF over the illegal activities that SBF did While Under House Arrest.

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