Blockchain data indicates that on Thursday, a group of debtors in charge of wallets connected to the cold storage of the bankrupt cryptocurrency exchange FTX transferred more than $19 million worth of different tokens to cryptocurrency exchange addresses.
Approximately 470,000 SOL, or $15 million at today’s prices, were transferred to various wallets, according to on-chain analytics company Peckshield. The company continued, referring to centralised cryptocurrency exchanges, “Some of these funds have been sent to CEXs like Binance.”
A Binance deposit address received $2.5 million worth of different tokens, including 11,000 COMP, from an Ethereum-based FTX-linked wallet. Another person sent 1,395 ether (ETH) to a Coinbase (COIN) address, valued at $2.5 million, according to Peckshield.
The wallet labels were verified by the on-chain analytics company CryptoQuant in a Telegram message.
Cold storage is the term for an offline wallet that is not online, as opposed to a hot wallet that is kept online or on a cryptocurrency exchange.
The wallet-controlling debtor group has been involved in multiple transactions over the last few weeks. A tranche of tokens worth $8 million was transferred to Binance on Wednesday in a number of transactions.
The group has a position to earn at least $9 million in rewards annually, having staked over $122 million of SOL and $30 million of ETH earlier in October.
Following disclosures about the condition of its balance sheet that were made public last year, FTX fell apart. Sam Bankman-Fried, the company’s founder, is on trial, and John J. Ray III, the new CEO, has criticised the financial controls at the organisation.