OKX sends over $60M in crypto to Alameda’s wallet News ▸ FTX ▸ OKX ▸ Bankruptcy
OKX sends over $60M in crypto to Alameda’s wallet
Crypto exchange OKX made 16 transactions — which included 10 deposits of $5 million USDT — to the bankrupt firm’s wallet.
2 min read
Updated: May. 9, 2023 at 3:52 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
OKX sent over $60 million worth of crypto assets to bankrupt Alameda Research’s wallet in the last five hours, according to Arkham Intelligence data.
The crypto exchange made 16 transactions — which included 10 deposits of $5 million USDT and 337,859 MASK (roughly $1.30 million) — to the bankrupt firm’s wallet.
In March, OKX said it would return $157 million in frozen assets from the bankrupt crypto firm. At the time, the exchange said the funds were seized after FTX collapsed in November 2022.
OKX had promised to cooperate with FTX debtors and law enforcement officials to return any funds linked to the bankrupt firm on its platform.
During the last seven days, the Alameda wallet has received over 1 million Stargate tokens (STG) and over 5 billion units of the GPEPE meme coin from an unknown wallet.
Meanwhile, Alameda wallet showed that its largest crypto holding was $61.40 million USDT. Other top holdings of the firm included 100 million BitDAO (BIT) tokens worth $48.61 million, 19,292 Ethereum (ETH) worth $26.5 million, $12.35 million USDC, 28.9 million Stargate tokens worth $18.43 million and 16.39 million Polygon tokens worth $14.63 million.
Its other holdings include altcoins like Lido (LDO), FTX Token (FTT), Serum (SRM), etc.
Cumulatively, it holds crypto assets worth $285.86 million.
FTX creditors have continued efforts to recover the exchange’s assets. The bankrupt firm has moved to claw back $3.9 billion from Genesis and has been involved in selling several assets belonging to the company.
Besides that, there is increased speculation that suggests the possibility of FTX restarting operations. A recent court filing confirmed plans to restart FTX’s Japanese subsidiary.
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Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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