Alameda Research, a trading firm and sister company of FTX, transferred funds from its crypto wallets shortly after the release of its former CEO, Sam Bankman Fried, on a $250 million bond.

The way in which the funds were transferred raised concerns among the community, as the Alameda wallet was found to be exchanging small amounts of ERC20s for ETH/USDT and then funneling the Ether and USDT through instant exchangers and mixers.

On-chain analyst ZachXBT discovered that the Alameda wallet ultimately swapped the funds for Bitcoin using decentralized exchanges such as FixedFloat and ChangeNow, platforms that are frequently used by hackers and exploiters to conceal their transaction routes.

The ongoing drama surrounding FTX and the latest transfer of funds from these crypto wallets has caused worry within the community, with some speculating that the pattern in which the funds are being swapped resembles that of an exploiter, while others suspect it could be an inside job to take whatever is left in those wallets.