Over $23 million in cryptocurrency has been transferred from wallets associated with the now-defunct crypto trading firms FTX and Alameda Research over the past four days.
According to SpotonChain, the money was moved to top exchanges like Binance, Coinbase, and OKX.
This is part of an estimated $591 million that has been shifted from the troubled companies since October 24th using 59 different crypto tokens.
The latest transfers were spread across 19 tokens, including Ethereum, Curve DAO, Avalanche, and Chainlink. An additional $6 million in assets like Dogecoin, Polygon, and Solana was also sent to exchanges.
The wallet transfers are believed to be part of efforts by FTX to recover assets for investors after the dramatic collapse of the exchange in November 2022.
While over $5 billion in cash and liquid crypto has been recovered, FTX still faces $3.8 billion in outstanding liabilities.
Also Read: FTX Challenges IRS’ $24B Tax Claim in Bankruptcy Court
