FTX, Alameda-Linked Wallets Send $75M in Ether to Wintermute

Wallets labeled by onchain trackers as linked to the FTX bankruptcy estate and Alameda Research transferred roughly $75 million in Ether to a Wintermute-labeled address, according to blockchain data. The transactions show the movement of the assets but do not confirm that Wintermute sold the ETH or reveal the purpose of the transfers.

Six Wallets Sent About 27,372 ETH

Onchain analyst EmberCN tracked six wallets that transferred a combined 27,372 ETH, valued at about $75.32 million, to Wintermute. The movements occurred across Sept. 22 and Sept. 23.

Blockchain security firm PeckShield separately flagged the largest individual transaction. That transfer moved about 23,639 ETH, worth roughly $65 million, from an address labeled as linked to Alameda and the FTX bankruptcy estate.

The different totals reflect the scope of the tracking. PeckShield highlighted one large transfer, while EmberCN counted several related movements.

Ether Reached a Wintermute-Labeled Address

The largest transfer went to an address identified by blockchain explorers as Wintermute 5. Sending assets to a market maker can precede a sale, hedge, or other liquidity transaction. 

However, the blockchain movements alone do not establish that Wintermute sold the Ether. Neither the FTX Recovery Trust nor Wintermute has publicly disclosed the purpose of the transfers.

Transfer Comes During FTX Creditor Repayments

The movement comes as the FTX Recovery Trust continues distributing recovered assets to creditors under its Chapter 11 reorganization plan. FTX began its fifth distribution on July 31, with approximately $900 million scheduled for eligible creditors. 

Future distribution dates are expected to be announced separately. The Recovery Trust’s distributions are made in U.S. dollars through approved providers including BitGo, Kraken and Payoneer.

Onchain Data Does Not Confirm Creditor Link

There is no public evidence tying the latest Ether transfers directly to creditor payments. The estate has been recovering and managing digital assets throughout the bankruptcy process, but the destination alone does not establish how the latest ETH will be used. Any sale, hedge or other transaction involving the transferred Ether would require additional onchain evidence or confirmation from Wintermute or the FTX Recovery Trust.