US Department of Justice Is Now Looking At SBF Crypto Transactions

• US authority has launched an investigation into the crypto dealings of FTX’s SBF.
• Previously, analysts monitored the movement of funds tied to FTX and Alameda.
• Last month, hackers stole $370M and $400M from the FTX’s wallets.

According to Bloomberg, the US Department of Justice has launched an investigation into a series of crypto transactions that Web3 analysts linked to disgraced crypto tycoon Sam Bankman-Fried (SBF).

Previously, analysts monitored the movement of funds that appear tied to digital wallets of the former CEO of the FTX exchange and Alameda Research, with a total estimated value of more than $1 million. 

On November 11, after the exchange’s former CEO, left the firm and filed for Chapter 11 bankruptcy protection, hackers stole between $370 million and $400 million in cryptocurrency assets from the exchange’s wallets. The FTX hacking scandal came to light when FTX’s official Telegram admins reported a case of unauthorized access.

Additionally, a crypto media house recently said that Alameda wallets became active days after SBF got bail. But Bankman-Fried claimed in a tweet yesterday that he “couldn’t be moving any of those funds” as he has no access to them anymore.

The crypto community believes SBF is lying. The verified Twitter account of BanklessHQ tweeted a ‘breaking’ update yesterday, claiming Bahamanian officials instructed SBF and FTX co-founder Gary Wang to transfer nearly $296M of digital assets to a single Fireblocks wallet. 

However, Chet Long, a cyber threat analyst, clarified BanklessHQ’s update about FTX’s former CEO. He said:

This is misleading. While this press release from FTX describes SBF and Wang transferring $296M of assets, that transfer occurred in November, directly after the Chapter 11 filing.

The cyber threat analyst concluded that BanklessHQ’s claim does not explain the recent on-chain activity.

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