The FTX founder apparently cashed out $684K after releasing on bail

According to a blockchain inquiry, SBF reportedly cashed out $684k from a crypto exchange in Seychelles while under house arrest.

On December 29th, DeFi analyst BowTiedIguana tweeted about a string of strange wallet transactions that may have been tied to SBF, raising the possibility that the ex-FTX CEO had breached release terms by spending more than $1,000 without the court’s approval.

As determined by BowTiedIguana, all remaining ETH was transferred on December 28 to SBF’s public address (0xD5758)  losses at a brand new location (0x7386d). According to BowTiedIguana, in August 2020, SBF moved into the Sushiswap creator’s former home from Chef Nomi.

Within a few hours, 0x7386d had received $371,000 in cryptocurrency transactions, $322,000 of which came from 32 wallets associated with Alameda Research. The DeFi analyst claims that all of the money was transferred to a single Seychelles-based cryptocurrency exchange and the RenBridge cryptocurrency bridge.

A total of 519.5 Ether, or around $629,000, was transmitted from address 0x7386d to address 0x64e9B. 

Whether or not these transactions are linked to SBF, some experts argue that they do not prove that FTX’s founder breached the terms of his bail.

“I don’t think of it as ‘spending’ money in the traditional sense.” One analyst of the market even went as far as to call them his assets.

SBF’s identity as Sushiswap’s mysterious co-founder, Chef Nomi, has been questioned by a number of internet users. 

Also Read: Kevina O’Leary’s Twitter Account Is Hacked And Used To Advertise Free Crypto

Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.

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