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The FTX founder reportedly cashed out $684,000 after being released on bail

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FTX founder Sam Bankman-Fried is said to be cashing out large sums of cryptocurrency shortly after being released on bail, on-chain data suggests.

The SBF disbursed $684,000 in cryptocurrency to an exchange in the Seychelles while it was under house arrest, according to an on-chain investigation by DeFi guru BowTiedIguana.

Decentralized finance (DeFi) analyst BowTiedIguana took to Twitter on Dec 29 to Transfer in a series of opaque wallet transactions allegedly linked to the SBF, suggesting the former FTX CEO may have breached the terms of the issuance in order to Don’t spend more than $1,000 without permission from the court.

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According to BowTiedIguana analysis, SBF (0xD5758) public address on December 28 sender all remaining ether (ETH) to a newly created address (0x7386d). BowTiedIguana noted that SBF acquired the title originally owned by the creator of Sushiswap from Chef Nomi in August 2020.

Within hours, 0x7386d Receive Transfers totaling $367,000 from 32 addresses identified as Alameda Research portfolios, with an additional $322,000 coming from other portfolios. All funds were sent to a central crypto exchange in the Seychelles and to the RenBridge crypto bridge, according to the DeFi analyst.

Related: SBF met with top Biden advisers two months before FTX collapse: report

0x7386d sender A total of 519.5 ether (ETH), or about $629,000, to 0x64e9B, which is also Receive Funds from titles labeled Alameda Research. BowTiedIguana also identified five separate transactions of less than 51 ETH ($61,000) that were used to move funds to newly created wallets and then “onward to an exchange based in Seychelles.”

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In addition, the wallet associated with SBF 0x64e9B sender Three strips of 200,000 ropes (USDT) to the FixedFloat exchange.

This article is under development and will be updated.