$1.7M In Crypto Vanishes From Bankman-Fried-Linked Firm Days After His Release On Bail

Some $1.7 million in cryptocurrency vanished from a trading firm linked to FTX founder Sam Bankman-Fried just days after he was released on bail, according to reports.

Thirty cryptocurrency wallets linked to Alameda Research, the bankrupt firm run by Bankman-Fried’s ex-paramour, suddenly became active on Dec. 28 following four weeks of inactivity, according to cryptocurrency site Cointelegraph. The money was moved using “mixing services” which make it more difficult to track, the site reported.

“Currently, our compliance team is working closely with investigators to detect the flow of the illegal funds, while also keeping a close eye on alerts from the community on funds with suspicious trails,” ChangeNOW, one of the services used to move the money, said in a statement.