Wallets affiliated with crypto trading companies FTX and Alameda Research transferred $10.8 million to Binance, Coinbase and Wintermute accounts using eight cryptocurrencies.

Spot On Chain, a blockchain analysis firm, discovered that $10.8 million in cryptocurrency was transferred from the accounts of FTX and Alameda Research to various crypto exchanges. The company estimates that since October 24, the two failed companies transferred $551 million using 59 different crypto tokens.

X by — Sharing a tweet about Spot On Chain (@spotonchain) December 1, 2023

#FTX And #Alameda They transferred $10.8 million to 8 assets #wintermute, #Binance And #coinbase in the last 11 hours:

10 million $GMT ($2.58 million)
407K $UNI ($2.41 million)
5.23 million $SYN ($2.25 million)
8.76 million $KLAY ($1.64 million)
3.87 million $FTM ($1.18 million)
77.77B $SHIB ($644 thousand)
and in small amounts $ARB And $OP.

Note… pic.twitter.com/0jb5ZMHvC7

#FTX And #Alameda Moved 8 assets worth $10.8 million to: #wintermute, #BinanceAnd #coinbase in the last 11 hours:

10 million $GMT ($2.58 million)
407K $UNI ($2.41 million)
5.23 million $SYN ($2.25 million)
8.76 million $KLAY ($1.64 million)
3.87 million $FTM ($1.18 million)
77.77B $SHIB ($644 thousand)
and a small amount $ARB And $OP.

Note… pic.twitter.com/0jb5ZMHvC7

— Spot On Chain (@spotonchain) December 1, 2023

The latest transfer of $10.8 million was spread across eight tokens: $2.58 million in StepN (GMT), $2.41 million on Uniswap (UNI), $2.25 million Synapse (SYN), $1.64 million Klaytn (KLAY), $1.18 million Fantom (FTM), $644,000 in Shiba Inu (STR) and small amounts of Arbitrum (ARB) and Optimism (OP).

On October 24, FTX and Alameda wallets transferred $10 million to a single wallet address, which was then redistributed to Binance and Coinbase accounts. A similar transaction took place on November 1. $13.1 million transferred to Binance and Coinbase accounts.

The movement of funds dates back to March 2023, when FTX and Alameda initiated the process of recovering assets for investors. At the time, three wallets associated with FTX and Alameda Research moved $145 million worth of stablecoins across various platforms, including Coinbase, Binance and Kraken.

$69.64 million of this is in Tether (USDT) was transferred to some custody wallets on crypto exchanges, while the remaining 75.94 million USD Coin (US Dollar) transferred to Coinbase custodial wallet.

Although the troubled crypto exchange recovered over $5 billion in cash and liquid cryptocurrency at the time, its total debts exceeded $8.8 billion.