{"id":72158,"date":"2022-12-30T17:06:20","date_gmt":"2022-12-30T15:06:20","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=72158"},"modified":"2025-09-08T13:15:22","modified_gmt":"2025-09-08T10:15:22","slug":"sam-bankman-fried-accused-of-cashing-out-684000-in-cryptocurrency-while-under-house-arrest","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/sam-bankman-fried-accused-of-cashing-out-684000-in-cryptocurrency-while-under-house-arrest\/","title":{"rendered":"Sam Bankman-Fried accused of cashing out $684,000 in cryptocurrency while under house arrest"},"content":{"rendered":"<p>Former FTX CEO Sam Bankman-Fried cashed out $684,000 in cryptocurrencies, potentially violating the terms of his bail release. This was stated by a DeFi analyst using the pseudonym BowTiedIguana.<\/p>\n<blockquote class=\\\"twitter-tweet\\\" data-lang=\\\"en\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">Did disgraced crypto founder Sam Bankman-Fried just cash out $684k to a crypto exchange in the Seychelles while under house arrest?<\/p>\n<p>His release conditions are that he not spend more than $1,000 without permission from the court.<\/p>\n<p>Let&#8217;s examine the evidence on chain \ud83d\udc47<\/p>\n<p>\u2014 BowTiedIguana (@BowTiedIguana) <a href=\\\"https:\/\/twitter.com\/BowTiedIguana\/status\/1608653434387050496?ref_src=twsrc%5Etfw\\\">December 30, 2022<\/a><\/p><\/blockquote>\n<p> <script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>On December 22, the Southern District of New York judge set Bankman-Fried&#8217;s bail at <a href=\"https:\/\/u1f987.com\/en\/news\/court-grants-250m-bail-for-sam-bankman-fried\">$250 million<\/a>. One of the conditions of his release was that he not spend more than $1,000 without court approval.<\/p>\n<p>According to BowTiedIguana&#8217;s analysis, on December 28 the address linked to the founder (0xD5758) sent the entire balance to Ethereum to a newly created wallet (0x7386d). The expert recalled that Bankman-Fried gained control of 0xD5758 in August 2020 from the anonymous SushiSwap creator known as Chef Nomi.<\/p>\n<p>Over the next few hours, more than 100 deposits were received. Crypto worth $367,000 was sent from wallets associated with Alameda Research. Assets worth more than $322,000 had other sources.<\/p>\n<blockquote class=\\\"twitter-tweet\\\" data-conversation=\\\"none\\\" data-lang=\\\"en\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">tl;dr all ETH sent from SBF&#8217;s public wallet to newly created address 0x7386df2Cf7e9776bCE0708072c27d6a7135D51CB which, within hours, received transfers totaling $367k from 32 known Alameda Research wallets + $322k from other wallets; all sent to a Seychelles CEX or Ren BTC bridge<\/p>\n<p>\u2014 BowTiedIguana (@BowTiedIguana) <a href=\\\"https:\/\/twitter.com\/BowTiedIguana\/status\/1608704911222665217?ref_src=twsrc%5Etfw\\\">December 30, 2022<\/a><\/p><\/blockquote>\n<p> <script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>All consolidated funds were then sent to a Seychelles-registered exchange without <span data-descr=\\\"Know Your Customer \u2014 \u0437\u043d\u0430\u0439 \u0441\u0432\u043e\u0435\u0433\u043e \u043a\u043b\u0438\u0435\u043d\u0442\u0430\\\" class=\\\"old_tooltip\\\">KYC<\/span> and into the Bitcoin network via the Ren Protocol bridge. The latter project <a href=\"https:\/\/u1f987.com\/en\/news\/ren-protocol-warns-of-risk-that-15-million-worth-of-assets-could-be-lost\">financed by Alameda<\/a>, the analyst noted.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u00abSince Ethereum&#8217;s blockchain is an immutable public ledger, these on-chain proofs are continually accessible to law enforcement and courts\u00bb, BowTiedIguana said.<\/p>\n<\/blockquote>\n<p>Not all commentators agreed with his assumption about a violation of bail terms.<\/p>\n<blockquote class=\\\"twitter-tweet\\\" data-conversation=\\\"none\\\" data-lang=\\\"en\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">I don&#8217;t know that this necessarily qualifies as \\&#8221;spending\\&#8221; money. They&#8217;re his assets already (or he&#8217;ll argue that at least). The bigger question is whether those assets are part of the bankruptcy estate and not actually his assets personally<\/p>\n<p>\u2014 John Smith (@JohnSmi69178247) <a href=\\\"https:\/\/twitter.com\/JohnSmi69178247\/status\/1608669409966686208?ref_src=twsrc%5Etfw\\\">December 30, 2022<\/a><\/p><\/blockquote>\n<p> <script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u00abI don&#8217;t know that this necessarily qualifies as \u201cspending\u201d money. They are already his assets (or he&#8217;ll argue that at least). The bigger question is whether these funds are part of the bankruptcy estate, and not actually his personal assets\u00bb, wrote John Smith, a lawyer connected to the crypto industry.<\/p>\n<\/blockquote>\n<p>Earlier, US prosecutors charged Bankman-Fried with eight criminal counts in the FTX collapse investigation. <\/p>\n<p>Media reports that he is prepared to plead guilty to deceiving investors and stealing client funds. Earlier, former Alameda CEO Caroline Ellison and FTX co-founder Gary Wang reached a deal with prosecutors.<\/p>\n<p>Read ForkLog&#8217;s Bitcoin news in our Telegram \u2014 news, prices and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Former FTX CEO Sam Bankman-Fried cashed out $684,000 in cryptocurrencies, potentially violating the terms of his bail release. This was stated by a DeFi analyst using the pseudonym BowTiedIguana.<\/p>\n","protected":false},"author":1,"featured_media":72159,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1236,1403],"class_list":["post-72158","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-ftx","tag-sam-bankman-fried"],"aioseo_notices":[],"amp_enabled":true,"views":"23","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/72158","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=72158"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/72158\/revisions"}],"predecessor-version":[{"id":72160,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/72158\/revisions\/72160"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/72159"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=72158"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=72158"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=72158"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}