KEY POINTS
- Bankman-Fried was allowed by a U.S. court to stay in his parent’s house with several conditions
- One of the conditions includes Bankman-Fried being prohibited to execute transactions of more than $1,000
- If any of the conditions is violated, it could propel the court to revoke the bond and order SBF to pay $250 million
Just a few days after his release on a $250 million bail, Sam Bankman-Fried, the embattled founder of crypto derivatives exchange FTX, has reportedly cashed out a whopping $689,000 from a Seychelles-based crypto exchange, according to on-chain data.
Bankman-Fried has been allowed by a U.S. court to stay in his parent’s house with several conditions. If any of them is violated, it could propel the court to revoke the bond and order the FTX founder to pay $250 million and take his parent’s house or serve possible jail time.
One of the conditions includes Bankman-Fried being prohibited to execute transactions of more than $1,000, and if the latest claim about him cashing out $689,000 is true, then it means SBF, the name the FTX founder is more popularly known in the crypto space, may have violated the condition of his bond.
The biggest question right now is, how is this possible considering Bankman-Fried’s current situation?
A pseudonymous DeFi educator who goes by the Twitter name BowTiedIguana on a thread last week shared on-chain data showing a series of wallet transactions allegedly linked to the FTX founder.
Based on the DeFi educator’s analysis, the wallet 0xD5758, which is apparently SBF’s public address now after he agreed to take it over from the Sushiswap creator Chef Nomi in August 2020, sent all of its Ether 0.6659 ETH, worth around $806.51 at the time, to a newly created address 0x7386d.
A few hours later, the said wallet received transfers from 32 addresses identified as Alameda Research wallets, collectively amounting to $367,000 and an additional $322,000 from other wallets.
All of the funds, worth around $689,000, were then moved to a centralized crypto exchange platform based in Seychelles and to the crypto bridge RenBridge. Furthermore, the alleged SBF-linked wallet moved $200,000 worth of Tether (USDT) to the FixedFloat exchange.
“Perhaps the SEC attorneys would like notice of this,” the Twitter user said, adding, “As the Ethereum blockchain is an immutable public ledger, this on-chain evidence is permanently available to law enforcement and the courts.”
Did disgraced crypto founder Sam Bankman-Fried just cash out $684k to a crypto exchange in the Seychelles while under house arrest?
His release conditions are that he not spend more than $1,000 without permission from the court.
Let’s examine the evidence on chain 👇
— BowTiedIguana (@BowTiedIguana) December 30, 2022
Bankman-Fried has not yet responded to this recent allegation linking his name to the movement of funds.
However, he reacted to a report, which seemingly painted his involvement in the movement of more than $1 million funds of Alameda Research to crypto mixers, which took place last week.
Bankman-Fried vehemently denied he has anything to do with the Alameda Research wallets and the moving of its funds. “None of these are me. I’m not and couldn’t be moving any of those funds; I don’t have access to them anymore,” the disgraced FTX founder and former CEO said in a tweet.
Over the past weeks, Bankman-Fried has denied a lot of things, and if there is something that the crypto space has learned from the once-regarded white knight of the industry, it’s that he loves to deny things.
