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News

Alameda Wallets Being Withdrawn

November 12, 2022 - Around 1 mins mins to read
Millions of tokens were diverted to a single address this morning, suggesting that money was being transferred from Alameda wallets.
Alameda Wallets Being Withdrawn

According to logs on the block explorer Etherscan as of 4:45 p.m. UTC, transactions to the wallet included 9.8 million wrapped XRP, about 6.8 million in the Render network token, about 3.4 million in xSUSHI, and 100 million in BitDAO’s token.

According to data, 11 million USDT were transferred from the cryptocurrency exchange Kucoin. Just under $55 million is the sum of these.

The transfers from Alameda wallets coincide with money leaving FTX itself. Hackers are actively transferring money to various networks for withdrawals after draining the exchange of more than $600 million. This raises suspicions that FTX is trying to take money from users.

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Harold

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Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.