In a significant move that has drawn attention across the cryptocurrency landscape, OKX has transferred more than $60 million worth of digital assets to a wallet associated with Alameda Research, the now-bankrupt trading firm linked to the collapse of FTX. According to on-chain data from Arkham Intelligence, these transactions occurred within a five-hour window, signaling a major step in the ongoing asset recovery process tied to one of crypto’s most infamous bankruptcies.
This development underscores the continuing ripple effects of the 2022 FTX collapse and highlights how major exchanges like OKX are playing a pivotal role in returning frozen or misallocated funds to rightful stakeholders.
Breakdown of the $60M Transfer
OKX executed 16 separate transactions over the monitored period. The bulk of the transfer consisted of 10 deposits of $5 million each in USDT (Tether)**—a stablecoin widely used for its liquidity and price stability. In addition, the exchange sent approximately **337,859 MASK tokens**, valued at around **$1.3 million, further diversifying the asset types being returned.
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These transfers were directed to a known Alameda Research wallet, confirming continued cooperation between exchanges and legal authorities managing FTX's insolvency proceedings. Arkham Intelligence, which specializes in blockchain analytics, verified the flow of funds and categorized them under Alameda’s recoverable asset pool.
Background: OKX’s Commitment to Asset Recovery
Back in March 2025, OKX publicly announced its intention to return $157 million in frozen assets tied to Alameda Research. The exchange clarified that these funds had been locked following the FTX collapse in November 2022, after regulators and internal audits identified suspicious activity and ownership links.
Since then, OKX has emphasized its commitment to regulatory compliance and transparency by actively working with FTX creditors, debt recovery teams, and law enforcement agencies to identify and return any funds originating from or linked to the defunct exchange.
This latest transfer of $60 million represents a substantial portion of that pledged amount, indicating progress in what has become one of the largest crypto asset restitution efforts in history.
Current Holdings of the Alameda Wallet
As of the past week, the Alameda wallet has seen increased activity beyond just the OKX inflows. On-chain tracking reveals:
- Over 1 million Stargate (STG) tokens received from an unidentified source
- More than 5 billion GPEPE meme coins deposited—an unusual addition, given the speculative nature of such assets
Despite these newer additions, the wallet's largest holding remains $61.40 million in USDT. Other major positions include:
- 100 million BitDAO (BIT) tokens (~$48.61 million)
- 19,292 ETH (~$26.5 million)
- $12.35 million in USDC
- 28.9 million STG tokens (~$18.43 million)
- 16.39 million Polygon (MATIC) tokens (~$14.63 million)
Additionally, the portfolio includes smaller but notable allocations in altcoins such as Lido (LDO), FTX Token (FTT), and Serum (SRM)—many of which were core components of the original FTX ecosystem.
In total, the wallet now holds digital assets valued at approximately $285.86 million, based on current market prices.
FTX Creditors’ Ongoing Recovery Efforts
The return of funds by OKX occurs amid broader efforts by FTX creditors to reclaim lost assets. To date, creditor committees have pursued legal action to recover billions in outstanding liabilities. One notable case involves a $3.9 billion clawback lawsuit filed against Genesis Global, alleging improper withdrawals prior to FTX’s bankruptcy.
Moreover, several subsidiaries and intellectual properties formerly owned by FTX have been auctioned or restructured, with proceeds funneled into repaying affected users and investors.
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Could FTX Make a Comeback?
While full recovery remains a long-term challenge, there is growing speculation about a potential relaunch of FTX operations. A recent court filing confirmed plans to revive FTX Japan, the exchange’s former subsidiary in one of Asia’s most regulated crypto markets. If successful, this could pave the way for a phased global relaunch under new governance structures.
Such a move would require extensive regulatory approvals and trust rebuilding—but it reflects a broader trend in the industry where failed platforms attempt structured rebirths rather than complete dissolution.
Frequently Asked Questions (FAQ)
Q: Why is OKX sending money to Alameda Research if it’s bankrupt?
A: Alameda Research is part of the larger FTX bankruptcy estate. OKX is returning funds that were previously frozen due to their connection to illicit or unresolved transactions. These assets are being directed to wallets managed by official creditors or court-appointed administrators for fair redistribution.
Q: What are the main cryptocurrencies involved in the transfer?
A: The primary assets transferred include USDT (Tether) and MASK tokens. USDT made up the majority of the value, with ten $5 million deposits totaling $50 million, while MASK contributed roughly $1.3 million.
Q: How does blockchain intelligence detect these transactions?
A: Platforms like Arkham Intelligence use on-chain analysis to monitor wallet addresses linked to known entities (like Alameda). By tracing transaction histories and token flows, they can attribute movements to specific organizations—even within pseudonymous networks.
Q: Is this the full $157 million OKX promised to return?
A: No, this $60 million transfer is part of a larger commitment. OKX pledged to return $157 million in total, so additional transfers may occur as compliance checks and legal validations continue.
Q: What happens to the recovered assets in Alameda’s wallet?
A: These funds are typically held as part of the bankruptcy estate and will be distributed to creditors according to court-approved repayment plans. Some may also be used to settle legal claims or operational costs related to liquidation.
Q: Could this affect the price of tokens like MASK or STG?
A: Large movements can cause short-term volatility, especially for lower-cap tokens like MASK or meme coins like GPEPE. However, unless there's selling pressure, mere transfers don’t necessarily impact long-term valuations.
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Final Thoughts
The transfer of over $60 million from OKX to an Alameda-linked wallet marks a critical milestone in post-FTX recovery efforts. It reflects improved collaboration between exchanges, regulators, and blockchain analysts to ensure accountability and restitution in decentralized finance.
As more assets are returned and legal processes advance, the crypto industry continues its journey toward greater transparency and resilience—learning hard lessons from past failures while building safer systems for the future.
Core Keywords: OKX, Alameda Research, FTX bankruptcy, crypto asset recovery, blockchain intelligence, USDT transfer, cryptocurrency restitution