On November 2, Whale Alert reported that 35.7 million MATIC transfers were made to Voyager from an unknown wallet. Along with this, it was reported that there are concerns about the leading altcoin Ethereum. Concerns are mounting for both altcoin projects.
Transferred to an unknown wallet in 2 altcoin projects
The transfer quoted by Whale Alert created quite a stir among investors. After the transfer, a user emphasized that the company continues to struggle with bankruptcy. He then questioned how the company is still trading crypto despite an ongoing acquisition by FTX. Despite the speculation, it was reported that the buyer made transactions through his wallet on Voyage. Tracing the transaction in Etherscan revealed that it was an internal transaction. However, the reason for this great transfer is unknown. Now, it has been stated that the address on Voyager has 52 thousand ETH, over $82.17 million at current rates.
FTX.US reportedly won a bid in September to purchase assets owned by Voyager. Specifically, he described Voyager’s initial $1.4 billion bid as too low. Recent reports suggest that the deal could see the defunct crypto lender receive 72 percent of its clients’ funds. With all this, it is known that the courts have not yet finalized the sale. The judge in charge of the bankruptcy case issued a new appeal to the company. A “non-security” clause will be added to allow the sale to consider higher bids before completion. Most people are waiting for a final decision on the litigation process in December. However, a definitive conclusion cannot be completed until the plan receives approval from the Judge. Voyager filed for Chapter 11 bankruptcy in New York last July. The filing came after Three Arrows Capital (3AC) defaulted on unsecured loans in June. However, the company took this step despite assurances from FTX that it had sufficient credit lines.
1 million dollar transaction
A surprising $1 million transaction was seen in Ethereum from one of the stock exchange addresses of 3AC, which went bankrupt with Bitcoin falling to $ 21 thousand. After the activity, it came to mind that 3AC management did not have the funds to pay its investors.
Further explanations are questionable. In July, Kyle Davies and Su Zhu, co-founders of Three Arrows Capital, made a statement. They said they regretted losing large amounts of money after the unexpected collapse of BTC that brought the entire market down. However, both founders categorically refused to withdraw money before the collapse. After Etherscan filed for Bankruptcy, he made it clear that the fund did not have any significant funds to meet its obligations.
The founders expressed their regret
Soon, users found assets owned by Su Zhu. These include his $50 million yacht and several homes in Singapore. They also explored other assets that could be used to make payments. The last $1 million transfer from crypto exchange OKX brought question marks. It could be proof that 3AC’s co-founders may have some funds in private wallets and crypto exchanges that are not tied to their names. Due to the decentralized nature of the industry, it is not clear how many assets a business leaves. Also, it is extremely difficult to pinpoint whether there is anything hidden in his personal notebooks.
After receiving 660 ETH, 3AC moved 990 ETH to a new wallet with no other cryptos. It is unclear what the purpose behind the operations is after the operation. However, some users feel that the fund is to make the payment process more complicated. It was also assumed that attempting to redistribute large assets among several wallets. Currently, it has been reported that there are only 49 ETH in the official 3AC wallet. It is reported that there is $ 1.5 million in the account, which is in various liquid and illiquid tokens, except ETH.
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