FTX founder reportedly cashes out $684K after being released on bail

FTX founder reportedly cashes out $684K after being released on bail

30 Dec 2022

By HELEN PARTZ

SBF has allegedly cashed out $684,000 from a crypto exchange in Seychelles while being under house arrest, according to an on-chain investigation.

FTX founder Sam Bankman-Fried is reportedly cashing out large amounts of cryptocurrency soon after being released on bail, on-chain data suggests.

SBF has cashed out $684,000 in crypto to an exchange in Seychelles while being under house arrest, according to the on-chain investigation by DeFi educator BowTiedIguana.

Decentralized finance (DeFi) analyst BowTiedIguana took to Twitter on Dec. 29 to report on a series of obfuscated wallet transactions allegedly linked to SBF, suggesting that the former FTX CEO could have violated release conditions to not spend more than $1,000 without permission from the court.