The Case Grows for These 2 Altcoins: Transferred to Voyager!

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 also concerns about the leading altcoin Ethereum. Concerns are growing on the names of both altcoin projects.

Transferred to an unknown wallet in 2 altcoin projects

The transfer quoted by Whale Alert created quite a stir among investors. Following 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 process by FTX. Despite the speculation, it was reported that the buyer made the transaction through his wallet on Voyage. The trace of the process in Etherscan revealed that it was an internal process. However, the reason for this great transfer is unknown. It is now 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. According to recent reports, the consensus indicates that the defunct crypto lender could see its clients receive 72 percent of their funds. With all this, it is known that the courts have not finalized the sale now. The judge in charge of the bankruptcy case issued a new invitation to the company. A “non-security” aspect will be added that will allow it to consider higher bids before the sale is complete. Many 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 Hakim. 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 process realized

A surprisingly $1 million process was seen in Ethereum from one of the stock market addresses of 3AC, which went bankrupt with Bitcoin falling to $21,000. Following the activity, it came to mind that the 3AC administration 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 huge amounts of money in the wake of BTC’s unexpected collapse that brought the entire market down. However, both founders categorically refused to withdraw money before the collapse. After Etherscan filed for bankruptcy, he clearly stated that the fund did not have a valuable fund to meet its obligations.

Founders expressed regret

Shortly after, users found assets owned by Su Zhu. These include his $50 million yacht and several residences 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 unnamed funds in private wallets and crypto exchanges. Due to the decentralized nature of the industry, it is not clear how many assets a business leaves. In addition, it is extremely difficult to say with certainty 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. After the process, the purpose behind the operations is unknown. However, some users think that the fund is to make the payment process more complicated. It was also assumed that large assets were attempted to be redistributed in the middle of several wallets. Currently, it is 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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