The Movement of Funds from FTX Cold Wallets Raises Questions

The group responsible for managing the cold wallets associated with the bankrupt crypto exchange FTX has made several significant transactions recently. According to blockchain data, over $19 million worth of cryptocurrencies have been sent to different exchanges.

The on-chain analytics firm Peckshield reported that approximately 470,000 SOL tokens, valued at around $15.5 million, were transferred to various wallets. Some of these funds also made their way to wallets belonging to “CEXs like Binance.”

In addition to the SOL tokens, an Ethereum (ETH) wallet linked to FTX conducted transfers of different Ethereum-based ERC-20 tokens, amounting to $2.5 million. These tokens were sent to a Binance deposit address. Notably, among these transactions were transfers of 11,000 Compound (COMP) tokens and around 974,000 Render (RNDR) tokens, as detailed by Peckshield.

An additional transaction involved the transfer of 1,395 ETH, equivalent to approximately $2.5 million, to a Coinbase address.

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