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FTX Update: FTX liquidation team incurs unexpected on-chain operation loss of $70,000

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FTX Update: FTX liquidation team incurs unexpected on-chain operation loss of $70,000

The report from blockchain intelligence company Arkham Intelligence indicates that the FTX restructuring team has been attempting to consolidate Alameda's scattered cryptocurrency assets into a single wallet. However, DeFi seems to be a new experience for them, as they were liquidated and lost $72,000 during the process of closing leveraged positions in lending.

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The report from the blockchain intelligence company Arkham Intelligence indicates that FTX has been attempting to consolidate Alameda's scattered crypto assets into a single wallet. However, their experience with DeFi seems to be challenging as they faced liquidation and incurred a loss of $72,000 during the process of closing leveraged positions.

Arkham points out that the bankrupt team has already consolidated around $1.4 million to the address 0xF02e over the past two weeks, but many on-chain operations have ended in failure:

  • Several failed transactions.

  • Failed attempt to transfer 1.75 million LDO tokens.

  • Trying to retrieve assets from Aave without repaying first but removing additional collateral instead, resulting in the liquidation of 4.05 aWBTC tokens, around $72,000.

According to Arkham's compilation of several key wallets, there are approximately $25.5 million in crypto assets, including 1.07 million tokens rewards that have not been claimed.

Arkham suggests that the liquidation team should focus on closing leveraged positions on various public chains, reclaiming assets, rather than transferring small amounts of ERC20 tokens all day, such as spending a $2.99 Gas fee on 1/7 to transfer $0.02 worth of SUSHI tokens.