A recent report by blockchain analytics firm Nansen has revealed that wallets connected to the bankrupt cryptocurrency exchange FTX have been involved in the transfer of approximately $156 million worth of digital assets over the past week. These assets include popular cryptocurrencies like Ethereum (ETH) and Solana (SOL), sparking concerns among industry experts and investors.

Bankrupt FTX Wallets Unstake $57 Million in SOL Tokens

Nansen’s report highlights the ongoing movement of funds from FTX wallets, which continue to migrate to various exchanges. Notable transactions in this regard include:

• 695,000 Perpetual Protocol (PERP) tokens worth $423,000
• 767,000 Biconomy (BICO) tokens worth $182,000
• 833,000 Kyber Network (KNC) tokens worth $616,000
• 108 million TrueFI (TRU) tokens worth $420,000
• 138,000 Band (BAND) tokens worth $221,000
• 2.5 million Graph (GRT) tokens worth $273,000
• 845 Maker (MKR) tokens worth $1.17 million
• 7.16 million Render (RNDR) tokens worth $17.8 million
• 10.5 million USD Coin (USDC)
• 23,000 Polygon (MATIC) tokens worth $15,000
• 9.5 million Ren (REN) tokens worth $500,000
• 1.1 million ETH tokens worth $2 million

The report also highlights an additional 1.6 million SOL tokens worth $57.6 million that have initiated the unstaking process. While these funds have not yet left the associated wallet, their potential movement could bring the total SOL tokens moved by FTX to just under $90 million. Taking into account the unstaking of SOL and the new assets transferred to Coinbase and Finance, the total value of funds moved by FTX now stands at $156 million.

Significant Transfers: LINK, AAVE, and MKR Revealed

Nansen’s previous investigation disclosed significant transfers from wallets connected to FTX and Alameda Research, FTX’s trading arm. These funds were initially withdrawn from FTX and Alameda wallets, sent to intermediary wallets, and eventually deposited into Binance and Coinbase. The report discloses the following noteworthy movements:

• 2.2 million USD worth of Chainlink (LINK) tokens
• 1 million USD worth of Aave (AAVE) tokens
• 2 million USD worth of Maker (MKR) tokens
• 3.4 million USD worth of Ethereum (ETH) tokens

Additionally, Nansen’s investigation uncovered that 943,000 SOL tokens, equivalent to approximately $32 million, were moved from the FTX Cold Storage wallet.

Conclusion

These recent findings by Nansen regarding the movement of funds from wallets associated with the bankrupt cryptocurrency exchange FTX have raised concerns within the cryptocurrency community.

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Ahmed Falah

Hi, I’m Ahmed Falah. I work at the intersection of technology, finance, and human well-being, exploring how emerging digital systems can create sustainable and impactful growth across businesses and society.

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