Federal authorities are looking into a series of cryptocurrency transactions linked to SBF’s crypto wallets.
Data tracker Arkham Intelligence estimates the value of these funds to be over a million dollars.
Data tracker Arkham Intelligence estimates the value of these funds to be over a million dollars. However, SBF has previously stated that he only had $100,000 in his bank account.
Blockchain specialists have been watching the transfer of funds that appear to be linked to digital wallets associated with the former CEO of the FTX exchange and his defunct hedge firm Alameda Research in recent days.
In a Friday tweet, Bankman-Fried denied the claims and asserted that he was not the one executing the transactions.
The crypto community, on the other hand, is certain that SBF is fabricating facts. They also allege that while under house arrest in the United States, the FTX founder transferred approximately $684,000 to a cryptocurrency exchange in Seychelles.
Earlier this month, Bankman-Fried was accused of committing a crime for his role in the failure of FTX. Prosecutors from the Southern District of New York are now investigating the mysterious transactions that occurred recently, as well as if Bankman-Fried is just redistributing his own assets or cashing them out without consent if he is the one behind these transactions.
Bankman-Fried, better known by his initials SBF, was given bail of $250 million and released a week ago. With the exception of paying fees or legal charges, the FTX founder is prohibited from making financial transactions worth more than $1,000 without first obtaining consent from authorities or a judge. At this point, it is unclear whether he disregarded such conditions.
On the other hand, as reported on CoinGabbar recently, SBF has agreed to plead not guilty to the criminal charges in a Manhattan federal court on January 3, 2023, before U.S. District Judge Lewis Kaplan.
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