The U.S. authority has launched an investigation into the crypto dealings which are allegedly undertaken by Sam Bankman-Fried.
Recent reports state that federal authorities are looking into a series of cryptocurrency transactions that have been connected to Sam Bankman-Fried-related digital wallets by web analysts.
Data tagging company Arkham Intelligence has determined that these monies are worth over a million dollars. SBF, however, has asserted in the past that his bank account only has $100,000 left.
Blockchain analysts have been monitoring the movement of assets over the last few days that appear to be connected to virtual wallets connected to the former CEO of the FTX exchange and his shuttered hedge fund Alameda Research.
In a tweet that he posted on Friday, Bankman-Fried refuted the accusations and said that he was not the one carrying out these activities.
On the other hand, the bitcoin community is still of the opinion that SBF is making up information. They also believe that when the FTX founder was under house arrest in the US, he transferred more than $684,000 to a cryptocurrency exchange in the Seychelles.
THE FTX SAGA
For his part in the demise of FTX, Bankman-Fried was charged with a crime earlier this month. Prosecutors from the Southern District of New York are currently investigating the odd transactions that have occurred in order to ascertain whether or not Bankman-Fried is simply spreading his own riches or illegally cashing them out if he is the one who is responsible for them.
Bankman-Fried, better known as SBF, was released a week ago after receiving a $250 million bail. With the exception of paying for fees or legal charges, the FTX founder is prohibited from making financial transactions worth more than $1,000 without first obtaining permission from the authorities or a judge.
It is unclear at this point if he has ignored those requirements. On the other hand, as was recently reported, SBF has consented to enter a not guilty plea to the criminal accusations on January 3, 2023, in front of U.S. District Judge Lewis Kaplan in a Manhattan federal court.
