Bitfinex and unknown sources deposit $13M in Alameda Research crypto wallet

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—by Protos Staff
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Sam Bankman-Fried’s bankrupt crypto trading outfit Alameda Research has received $6 million in Tether and $2.5 million in ether from Bitfinex’s hot wallet and $4.5 million worth of USD coin from an unknown source.

Alameda’s consolidation wallet further received 30,000 Lido tokens worth over $65,500.

It received the $10.5 million from Bitfinex and an unknown source overnight, as it deals with ongoing bankruptcy proceedings. A Bitfinex spokesperson told CoinDesk, “Alameda had an account on Bitfinex and Bitfinex is collaborating with the liquidators to return what’s left.”

Alameda now holds $183 million in several altcoins and $26 million in ether. Its largest holding is $54 million in BitDAO tokens.

Alameda liquidators have made several concerning errors in their attempts to recoup funds.

  • The withdrawal of funds from lending platform Aave resulted in several liquidations of Alameda’s wBTC collateral, which was used to borrow the governance token of Curve Finance, CRV.
  • Liquidators have spent far more on gas fees moving crypto ‘dust’ than the amounts moved are worth.
  • A number of Alameda-linked addresses sent $1.7 million worth of crypto to exchanges with notoriously bad KYC and AML checks.

Read more: Opinion: Bitfinex goes full fascist

Sister company FTX has already recovered over $5 billion in assets. Meanwhile, Sam Bankman-Fried faces up to life in prison.

On Wednesday, a Federal judge told the curly-haired alleged fraudster that he’s no longer allowed to contact current or past FTX and Alameda employees or use encrypted messaging platforms.

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