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Crypto exchange OKX transferred over $60M worth of tokens to FTX’s sister firm, Alameda Research.
Earlier in March, a court filing submitted by FTX claimed that OKX held $157M worth of funds that belonged to Alameda clients. Soon, OKX agreed to send the funds to certain wallets designated by the bankrupt firms’ debtors.
According to the statistics provided by Arkham Intelligence, crypto wallets controlled by the FTX-Alameda bankruptcy estate received $57.77M in Tether (USDT) and $1.3M in Mask Network (MASK) tokens.
As of writing, Alameda’s wallet holds $285M worth of crypto assets, with Tether, BitDAO (BIT), USD Coin (USDC) Ethereum (ETH), and Polygon (MATIC) tokens constituting the majority of these funds.
Meanwhile, FTX’s new management has recovered over $7B worth of crypto assets since November 2022, when the FTX Group filed for Chapter 11 bankruptcy. Currently, the firm’s lawyers are engaged in clawing back $4B from Genesis and its subsidiaries.