US Authorities Investigating Suspicious Crypto Asset Transfers from Bankman-Fried Wallets
• US authorities are reportedly investigating suspicious transfers from Alameda and SBF wallets.
• These transfers include ERC-20 tokens such as YFI, AAVE, and WETH.
• SBF, however, denied having access to any of the said wallets.
US authorities are reportedly investigating suspicious crypto asset transfers from wallets linked to Sam Bankman-Fried, the founder of both FTX and Alameda Research. Bankman-Fried is currently on bail under strict rules, which have been imposed following an indictment for alleged violation of federal securities laws.
Multiple transfers of crypto assets, including ERC-20 tokens such as YFI, AAVE, and WETH, were observed from wallets linked to Bankman-Fried or his former empire. This activity was noted by Bloomberg and is now being investigated by the US authorities.
Despite the activity, SBF, the former empire of Bankman-Fried, denied having access to any of the said wallets. In a statement to Bloomberg, SBF said, “We have no access to any of these wallets and are not involved in any of these transactions.”
The investigation comes at a time when the US Securities and Exchange Commission (SEC) is cracking down on the crypto industry. Recently, the SEC brought charges against Ripple Labs and its two top executives for allegedly selling unregistered securities. The SEC has also taken action against other crypto companies, including Telegram and Block.one.
Furthermore, the US Department of Justice has also opened an investigation into the cryptocurrency industry, which is being led by the US Attorney’s Office for the Southern District of New York. The investigation is reportedly focusing on “potential manipulation of cryptocurrency prices and other misconduct” in the industry.
It is not yet clear what the outcome of the investigation into Bankman-Fried’s wallet transfers will be. However, it is a sign that the US authorities are taking a closer look at the crypto industry and are cracking down on any suspicious activity.