FTX ex-CEO Sam Bankman-Fried could have damaged bail circumstances, on-chain evaluation reveals

An in-depth evaluation of the newest transactions by former FTX CEO Sam Bankman-Fried and now-defunct enterprise capital agency Alameda Analysis means that SBF could have damaged his bail circumstances.

On Dec. 27 — only a few days after Bankman-Fried left jail on a $250 million bail — an handle that he personally confirmed to be his again in September 2020 transferred all of his remaining property to a recent handle.

FTX ex-CEO Sam Bankman-Fried may have broken bail conditions, on-chain analysis shows - 1

The transaction moved about $800 of ethereum to the unknown handle, the place it was met by over half 1,000,000 value of cryptocurrency from a number of addresses, many being identified Alameda Analysis addresses.

The previous FTX CEO has denied any involvement in an on-chain exercise, however he claimed possession of one of many addresses concerned within the tweet talked about above. Furthermore, in response to a Dec. 22 CBS Information report, Bankman-Fried’s bail included a situation to not spend greater than $1,000 with out the courtroom’s permission.

A deep dive into on-chain knowledge

Because the begin of its on-chain exercise on Dec. 27, the newly-created handle has processed an astonishing 105 transactions — 52 on Dec. 27 and 53 on Dec. 28. The handle obtained a complete of $690,641 value of cryptocurrency, together with 32 transfers value a complete of $367,083 from identified Alameda Analysis addresses.

FTX ex-CEO Sam Bankman-Fried may have broken bail conditions, on-chain analysis shows - 2
Transactions had been submitted by the newly-created handle that obtained $800 from a identified Bankman-Fried handle. | Courtesy of Arkham Intelligence

The brand new handle solely despatched 5 spending transactions, however these emptied all of its funds and left the pockets clean. The majority of this was despatched to 2 addresses, one beginning with 0xE5cC0 which obtained a $60,450 transaction and one beginning with 0x64e9B which obtained a $605,280 and a $24.080 transactions.

FTX ex-CEO Sam Bankman-Fried may have broken bail conditions, on-chain analysis shows - 3
The 2 transactions on the left had been value solely $120 and had been most likely despatched to pay transaction charges and siphon cash out of these addresses. The transactions on the proper are cumulatively value about $690,000. | Courtesy of Arkham Intelligence.

The 0xE5cC0 handle (the one which obtained $60,450) despatched just one transaction forwarding its total stability to a different handle that had made properly over a million transactions since Apr. 21, 2021. Even filtering for transactions carried out since Dec. 27, the handle despatched properly over 6,824 transactions — 3,331 of these are spending transactions. Sadly, monitoring this switch additional than that is removed from trivial.

The handle that obtained the majority of the funds, however, can be a newly-created handle that confirmed no exercise earlier than Dec. 27. The 0x64e9B handle obtained a complete of 30 inbound transfers transferring in $4.169 million value of digital property, together with the recent handle that the confirmed Bankman-Fried handle despatched $800 to. This whole could also be greater than the funds this handle disposed of, contemplating that a number of incoming transactions had been returning Metamask and Uniswap (UNI) swaps.

The 0x64e9B handle’ transfers included a complete of over $860,000 value of digital property moved to on the spot change Fastened Float. It breaks the transaction change, as a centralized custodian took these funds in change for a unique digital asset. One other noteworthy outbound transaction is a $186,000 switch to a null handle of renBTC, which is a technique to switch the token between blockchains.

Did Sam Bankman-Fried break his bail circumstances?

On-chain knowledge and the previous FTX’s previous tweet point out that he did switch about $800 value of digital property to an handle that was then concerned in draining Alameda Analysis addresses. Whereas this means that Bankman-Fried is probably going behind these transactions, there is no such thing as a simple technique to show that he solely despatched $800 value of cryptocurrency to the identical handle that simply occurred to have additionally obtained vital transfers from Alameda Analysis and others.

The transactions clearly and undeniably linked to Bankman-Fried are simply $200 shy of his $1,000 restrict. Nonetheless, we can not make certain that he has no such permission. His denying making any transfers makes it fairly unlikely that these transactions are of a authorized nature and that he had the decide’s permission to maneuver any vital amount of cash. Nonetheless, with out additional investigations, most likely by regulation enforcement, it can’t be stated whether or not he had.

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