While removing the assets from the wallets, the Alameda liquidators endure numerous embarrassments. They recently lost $72,000 due to the insolvency of DeFi.
Since Sam Bankman-Fried has been released on bail, the Alameda wallets have been scrutinized by on-chain investigators. The wallets were active, and the community speculated on Sam Bankman-Fried selling cryptocurrency from Alameda wallets.
However, the discredited founder denied transferring cash from the Alameda wallets via Twitter. He also stated that he had no access to them in the first place. Hackers stole about $1.7 million from Alameda wallets, according to the crypto intelligence firm Arkham. Today, Arkham shed light on yet another Alameda humiliation.
The liquidators’ function is to wind up the company’s affairs. They accomplish this by mobilizing and utilizing the company’s assets to pay off creditors and investors.
Prior to the demise of the Sam Bankman-Fried business, the Alameda Research money was dispersed between various addresses. According to Arkham, the Alameda liquidators have been attempting to shift the assets to a central multi-sig wallet, 0xF02e, following the $1.7 million hack.
As of this writing, the new centrally managed wallet had almost $167 million in tokens.
The Alameda Liquidators committed some “embarrassing on-chain faux pas” while securing assets to a single multi-sig wallet, according to the on-chain intelligence business.
The Alameda Liquidators attempted to remove LDO tokens while they were still vesting, leading to nine failed transactions. Multiple unsuccessful transactions can also be attributed to reasons as trivial as “running out of gas.”
The Alameda Liquidators were liquidated, and they lost more than $72,000 in wrapped BTC in the DeFi protocol Aave. They attempted to close a borrowed trade without repaying the obligation and were forced to liquidate.
Because of Alameda Liquidator’s shameful on-chain behavior, the community mocks the legal fees they charge.
