Alameda Research liquidators continue to liquidate in DeFi
According to data compiled by Arkham Intelligence, Alameda Research’s liquidators are liquidating themselves within decentralized finance (DeFi), even though they must collect available funds. From Friday to Saturday night alone, the latter would lose more than a million dollars by liquidating positions equivalent to 731 Ether (ETH).
Cancellers are canceled
Alameda Research liquidators by definition, they are responsible for collecting the available funds of a company in the context of its insolvency to compensate its various creditors. The Alameda Study, that is to recall, FTX’s sister company went bankrupt itself since the beginning of last November.
But Alameda Research, an investment firm, still has open positions in decentralized finance (DeFi), for large sums. So, although the liquidators of Alameda Research want to return the funds invested in various protocols, it is not known how they will like it.
As Arkham Intelligence reported, liquidators got their hands dirty by trying to close a position on the Aave protocol, for example. The latter took them all back pledge in credit position, 4 twisted led to the cancellation of Bitcoin (wBTC) or more than $80,000 at the current price.
Arkham also explains that the liquidators tried several times to make large transactions, including withdrawing $1.75 million in LDO tokens. This led to dozens of failed operations.
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Over a million dollars gone Friday night?
But according to an exclusive from our colleagues at The Block, Alameda Research liquidators reportedly lost more than $1 million on the only Friday-Saturday night this weekend. The data is claimed to have been tracked by Arkham Intelligence through an as-yet-unreleased report.
The wallet here was backed by 9,000 Ether (ETH) or more than $13.7 million at the current price, $20 million in USDC as well as $4 million in DAI. pledge.
However, according to the information on the chain, the corresponding account will be “compulsorily reduced”, 731 ETH equivalent would lead to cancellation of dutiesor more than 1.1 million dollars at the current market price.
According to Arkham, these wallet cancellations can happen as a result of a voluntary transaction:
“Surprisingly, there were out-of-portfolio trades prior to and during the liquidation, indicating that the portfolio manager either could not figure out how to liquidate the positions or simply did not want to. »
In addition, some Twitter observers did not mention several transactions carried out by liquidators for just a few fractions of the cryptocurrency.
FTX estate bankruptcy pays liquidators $1,300 an hour to spend $2.99 in gas to transfer $0.02 worth of sushi tokens to multisig. pic.twitter.com/iQJfBFAKFf
— foobar (@0xfoobar) January 7, 2023
“The FTX bankruptcy group is paying liquidators $1,300 an hour to spend $2.99 in transaction fees to transfer $0.02 worth of SUSHI tokens to a few sigs. [portefeuille multi-signature, NDLR]. »
Although some people have pointed out that several recent money transfer addresses may belong to Sam Bankman-Fried, the latter denied any involvement of him.
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Source: The Block
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Passionate about the world of decentralized finance and the innovations that Web 3.0 brings, I write articles for Cryptoast to help make blockchain more accessible to everyone. We are sure that cryptocurrencies will change the future very soon.
Maximilian Prue
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