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.
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).
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.
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.