Former FTX CEO Sam Bankman-Fried is Accused of Withdrawing Almost $700K of Crypto

According to DeFi analyst under the pseudonym BowTiedIguana, former FTX head Sam Bankman-Fried cashed out $684,000 in cryptocurrencies, possibly violating bail conditions.

On December 22, the court of the Southern District of New York set a bail for Bankman-Fried in the amount of $250 million. One of the conditions for getting out of arrest was a ban on spending more than $1,000 without the consent of the court.

According to analysis by BowTiedIguana, on December 28, an address associated with the FTX founder sent the entire balance in Ethereum to the newly-created wallet (0x7386d).

The expert has recalled that Bankman-Fried received control of 0xD5758 in August 2020 from the anonymous creator of SushiSwap under the nickname Chef Nomi.

Within a few hours, more than 100 deposits arrived at the new address.