Amidst an ongoing investigation by law enforcement into FTX and its subsidiary, Alameda Research, someone has made a hefty withdrawal of 69.64 million USDT stablecoins and 75.94 million USDC from affiliated wallets.
According to the Lookonchain service, funds from three wallets linked to bankrupt companies were distributed among various sites.
Tether stablecoins have been transferred to the Coinbase, Binance, and Kraken exchanges, while all USD Coins have been sent to the custodial wallet of the Coinbase exchange.
The reason behind the asset movement remains unknown. Despite the setback, FTX and Alameda are striving to recover their assets.
In January, Andy Dietderich, FTX’s lawyer, announced that the companies had reclaimed access to $5 billion in fiat currencies and other liquid assets.
However, the companies’ total liabilities exceed $8.8 billion. In addition, it was previously reported that FTX planned to sell a stake in venture capital firm Sequoia Capital to an Abu Dhabi-based fund.
The deal appears to have gone through successfully, and the shares of Sequoia have been transferred to the fund.