It appears that a few wallets that are associated with Sam Bankman-Fried’s trading firm, Alameda Research, are swapping several cryptocurrencies and bridging them to BTC.
Crypto researcher ErgoBTC took it to twitter to reveal that wallets associated with Alameda Research (and marked as such on etherscan) are swapping various cryptocurrencies. The accounts have been swapping ERC20 tokens, such as YFI, WETH, AAVE, and others, for ETH and USDT.
Commenting on the matter was the popular on-chain investigator ZachXBT, who outlined that the tokens are being swapped for BTC.
He pointed to four separate BTC wallets where the funds have been funneled. At the time of this writing, they contain about 48 BTC, currently worth slightly less than $800K. It’s also interesting to note that the BTC has been split evenly between the four addresses.
Some users wondered if this could be the work of liquidators in the ongoing Bankruptcy 11 case, but ZachXBT seems skeptical, arguing that they likely won’t be using services such as FixedFloat or ChangeNow.