SBF has allegedly cashed out 684k USD without the court’s permission

According to an on-chain investigation by Defi educator BowTiedlguana, fraud crypto exchange FTX co-founder SBF has allegedly cashed out 684k USD from a crypto exchange in Seychelles while under house assets.

DeFi analyst BowTiedlguana published the investigation report on Twitter on Dec 29, 2022, on a series of obfuscated wallet transactions allegedly linked with the FTX co-founder SBF, suggesting that he could have violated the release condition not to spend more than 1000 USD without permission from the court.

More about SBF cash out

According to the report published by DeFi analyst BowTiedlguana, SBF’s public address(0xD5758) on Dec 28 sent all the remaining 28 Ether to a newly created address(0x7836d). He noted that SBF took over the new address originally owned by Chef Nomi, creator of Sushiswap, in Aug 2020.

Within some hours, the new address, acquired by SBF, started to receive transfers of 367,000 USD from 32 different addresses identified as Alameda Research wallet, with an additional 322,000 USD coming from other wallets. Reports say these funds were transferred to a centralised crypto exchange in Seychelles and the crypto bridge RenBridge.

SBF

In short, 0x7836d public address sent a total of 519.5 ETH or around 629,000 USD to the public address(0x64e9B).  These funds were received from addresses labelled Alameda Research. The DeFi Analyst also identified five transactions of less than 51 ETH, which were used to move the funds to newly created wallets and then onward to the centralised exchange.

Additionally, the SBF-linked wallet 0x64e9B sent three tranches of 200,000 USDT to the FixedFloat exchange. BowTiedlguana stated as the ETH blockchain is an immutable public ledger, and this on-chain evidence is permanently available to law enforcement and the courts. He also asked the attorney from US SEC to look into the issue.

SBF himself is not Sushiswap’s founder

When the report was published by the DeFi Analyst, BowTiedlguana, many online commenters started to speculate that FTX co-founder SBF himself was Chef Nomi, the anonymous co-founder of Sushiswap. Conor Grogan, Coinbase’s strategy head, stated that many of the recent SBF-linked transactions were heavily related to the past activities of the centralised exchange Suhshiswap.

He mentioned that if we assume that all these wallets belong to him, they were heavily involved with LPing Sushi early on, well before Chef Nomi handed off this project to SBF. However, in Sept 2020, SBF tweeted and made it clear that he had nothing to do with the building of Sushiswap.

What are your thoughts as SBF has allegedly cashed out 684k USD from a crypto platform? Do you think the attorneys of the US SEC will take any action against him? Let us know in the comments below. And, if you found our content informative, do share it with your family and friends.

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