Users In Awe As Alameda Wallets Funnel Crypto Valued Over $1.7 Million

It’s been more than 5 weeks since the FTX and the Alameda Research crash took place. Even today, the cryptocurrency industry does not want to talk about the trauma they had suffered in early November.

The cryptocurrency industry is still finding it difficult to come out of the trauma. However, it is the FTX and the Alameda Research communities that have been affected the most by the crash.

For over a month, the users from both the FTX and the Alameda Research are after the funds they have lost to these platforms.

However, there is no update that can make them happy and bring hope back to these investors and customers.

Alarming News for the Alameda Community

Just like the FTX exchange, the Alameda Research community is very unhappy with the way the platform misused its funds.

They are extremely unhappy as their funds are still locked on the platform while the bankruptcy court decides the fate of the funds.

Just when Alameda Research users could use good news from the platform or the court, their anger has been increased with an alarming update.

It was recently highlighted that several wallets on the Alameda Research became active all of a sudden. The wallets started to flush out funds from the Alameda Research platform to different platforms.

Wallets Involved in the Activity

It was confirmed that a total of 30 wallets on the Alameda Research platform became active all of a sudden on December 28.

It is to be kept in mind that all of the wallets under the platform had been inactive ever since the firm filed for bankruptcy in early November.

It had been over four weeks since the wallet had been inactive, so becoming active after this much time is quite alarming.

If you do not know already then you should that Alameda Research is a cryptocurrency trading platform that is the sister company of the FTX exchange.

Both the exchange and the trading platform were co-founded by Sam Bankman-Fried, who is currently considered the biggest villain in the crypto industry.

More than $1.7 Million were Mixed

As per the platforms tracking the activity of the wallets, a total of 30 Alameda Research platforms became active on December 28.

They flushed out and mixed $1.7 million worth of cryptocurrencies through the mixing platforms. A portion of these funds was funneled through several exchanges to ensure their traces were erased.

The sources claim that whoever carried out the transfers for the cryptocurrencies from the wallets knew what they were doing.

They ensured that they rank the cryptocurrencies through multiple mixing platforms for cryptocurrencies.

This way, they could completely get rid of the traces of the funds they had moved from the wallets to third-party sources.

The most important take here is that in most of the hacks and exploits, it is the hackers who use such platforms to hide their traces. They want to become untraceable so these platforms come in handy.

Given the fact that the person carrying out the transfers used the mixers and the exchanges, it can be assumed that it was an exploit.

The exploiter was able to steal the funds and then used the mixers to mix the crypto in possession and hide the traces.

Sam Bankman-Fried was Freed a Day Earlier

The Alameda Research users are extremely furious about the recent activity of the platform’s wallets. They are blaming the entire thing on Sam Bankman-Fried.

It is a coincidence that SBF had been released on a bond bail a day before the wallets became active. People are pointing figures at SBF demanding an inquiry on the matter, demanding an explanation.

For them, it is completely unjust that someone is able to withdraw the funds while they are unable to do it.

So far, it is being claimed that the exploiter used platforms such as Airswap, Curve SynthSwap, Fixedfloat, and ChangeNOW platforms for the mixing activity.

Through the mixers, the exploiter mixed ETH and USDT in particular.