Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
FTX CEO Sam Bankman-Fried's Bribery Wallet Revealed! What Coins Are Included? Here Are the Details

FTX CEO Sam Bankman-Fried's Bribery Wallet Revealed! What Coins Are Included? Here Are the Details

BitcoinsistemiBitcoinsistemi2024/11/13 13:22
By:Utku Yanık

The US Department of Justice has filed a complaint seeking the seizure of more than $17.9 million in cryptocurrencies from FTX CEO SBF’s Binance account.

The U.S. Department of Justice has filed a complaint seeking the seizure of more than $17.9 million in cryptocurrencies from a Binance account linked to former FTX CEO Sam Bankman-Fried’s alleged bribery of Chinese officials.

US Justice Department Moves to Seize Cryptocurrency Tied to Sam Bankman-Fried's Alleged Bribery to China

Prosecutors allege the funds are linked to a November 2021 incident in which Bankman-Fried directed a $40 million USDT transfer to free up about $1 billion in frozen crypto assets held on Chinese exchanges.

The complaint filed Tuesday alleges how Bankman-Fried facilitated bribes to secure the release of frozen funds through FTX's sister trading firm, Alameda Research.

Once the accounts were frozen, Bankman-Fried allegedly approved further payments in cryptocurrency to complete the bribe, according to prosecutors.

The bribe was reportedly laundered through several private wallets before ending up in a Binance deposit account.

This account holds a variety of digital assets, including Solana, Cardano, Ripple, Internet Computer, and Avalanche, which were initially valued at $8.6 million as of December 2023 but are currently worth around $17.9 million.

FTX’s dramatic collapse in November 2022 led to it filing for bankruptcy amid allegations of extensive mismanagement of the fund by Bankman-Fried and its executives.

Bankman-Fried was found guilty of all fraud charges in November 2023 and sentenced to 25 years in prison in March 2024.

*This is not investment advice.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!