The Asset Recovery Process Is Mess For Alameda Liquidators

Key Points:

• Alameda liquidators encounter numerous embarrassing situations. Their most recent loss from DeFi liquidation was $72,000.
• According to the crypto intelligence company Arkham, hackers stole approximately $1.7 million from the Alameda accounts.
• The Alameda Liquidators got liquidated and lost over $72,000 worth of Wrapped BTC in the DeFi protocol Aave. They tried to close a borrowed position without paying back the debt and faced liquidation.

While removing the assets from the wallets, the Alameda liquidators encounter numerous embarrassing situations. Their most recent loss from DeFi liquidation was $72,000.

Since Sam Bankman-Fried was released on bail, on-chain detectives have closely monitored the Alameda wallets. The wallets were active, and the neighborhood talked about Sam Bankman-potential Fried’s sale of cryptocurrency from Alameda wallets.

However, the discredited founder denied taking money out of the Alameda wallets in a tweet. He additionally asserted that he never had access to them. According to the crypto intelligence company Arkham, hackers stole approximately $1.7 million from the Alameda accounts. Today, Arkham revealed yet another embarrassing truth about Alameda.

The liquidators’ duty is to close the company’s affairs. To accomplish this, they call in and use the company’s assets to pay back investors and creditors.

Before the Sam Bankman-Fried empire fell, the Alameda Research monies were dispersed to several locations. According to Arkham, the Alameda liquidators have been attempting to transfer the assets to a central multi-sig wallet, 0xF02e, following the $1.7 million heist.

The Alameda Liquidators got Liquidated

While securing funds to a single multi-sig wallet, the Alameda Liquidators committed some “embarrassing on-chain faux pas,” claims the on-chain intelligence firm.

The Alameda Liquidators tried to withdraw LDO tokens while still under vesting, resulting in nine failed transactions. Multiple failed transactions are also due to issues as silly as running “out of gas.”

The Alameda Liquidators got liquidated and lost over $72,000 worth of Wrapped BTC in the DeFi protocol Aave. They tried to close a borrowed position without paying back the debt and faced liquidation.

Due to Alameda Liquidator’s embarrassing on-chain behavior, the community mockingly questions the legal fees charged by them.

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