Genesis Trading wallets halted – holding over $280M
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Genesis Trading wallets halted – holding over $280M

Genesis Trading wallets have ceased transactions over the last 12 hours after announcing it is filing for bankruptcy.

Josh O'Sullivan
By Josh O'Sullivan
Editor/Reporter CryptoSlate
1 min read
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Genesis Trading appears to have halted all wallet on-chain operations on Jan. 20 after filing for Chapter 11 bankruptcy in the Southern District of New York

The wallets  hold over $280 million in crypto — 144,847 in Ethereum (ETH) worth $220 million — as of press time.

Current wallet holdings

Genesis Trading's nine remaining top 10 crypto holdings include Compound (COMP), The Sandbox (SAND), Apecoin (APE), Decentraland (MANA), Aave (AAVE), Curve DAO (CRV), Pax Dollar (USDP), The Graph (GRT), Basic Attention Token (BAT) and Uniswap (UNI).

Genesis Trading wallets holdings - (Source: Arkham Intelligence)
Genesis Trading wallets holdings – (Source: Arkham Intelligence)

Flooded with fake tokens

Transactions four hours ago into Genesis Trading's wallets took place, but were just inflows of fake ‘GENESIS' tokens flooding in.

Genesis Trading wallet transactions - (Source: Arkham Intelligence)
Genesis Trading wallet transactions – (Source: Arkham Intelligence)

The last transaction originating from Genesis Trading was 12 hours ago at press time — a distinct change from the wallets' usual multiple transactions per hour pattern of behavior.

Article context

Mentioned in this article

Related Asset Ethereum #2 ETH $2,488.25 24-hour change: up 1.37% Loading price history… 24H Up 1.37% 7D Up 31.37% 30D Up 32.19% Related Asset Compound Coin COMP $0 24-hour change: up 0.09% Related Asset The Sandbox SAND $0.04 24-hour change: up 0.59% Related Asset ApeCoin APE $0.15 24-hour change: up 0.30% Related Asset Decentraland MANA $0.08 24-hour change: up 1.53% Related Asset Aave AAVE $130.08 24-hour change: down 7.68% Related Asset Curve DAO Token CRV $0.33 24-hour change: up 0.39% Related Asset Pax Dollar USDP · Stablecoin Related Asset Basic Attention Token BAT $0.07 24-hour change: up 0.75% Related Asset Uniswap UNI $4.40 24-hour change: up 0.82% Related Asset The Graph GRT $0.02 24-hour change: up 6.80% Related Company Genesis Institutional digital asset markets
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Analysis Ethereum logo Ethereum Bankruptcy Aave logo Aave Uniswap logo Uniswap Basic Attention Token logo Basic Attention Token

Editorial credits

Josh O'Sullivan
Josh O'Sullivan
Editor/Reporter CryptoSlate

Josh has been writing for a decade and is passionate about mainstream crypto adoption, bringing positive financial change to the masses through crypto and decentralized finance…

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