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Abraxas Capital Management, identified by Arkham, withdrew 30,000 $ETH (approximately $102 million) from Bitfinex on June 30, 2024. The entire amount was subsequently deposited into Spark, a decentralized finance platform. Using the deposited ETH as collateral, Abraxas Capital Management borrowed stablecoins, including 34 million DAI, which were then swapped for an equivalent amount of USDC and deposited into Binance. They currently have 30,151 $ETH deposited on Spark and 52M DAI.
🚨 🚨 🚨 15,000 #ETH (50,758,460 USD) transferred from #Bitfinex to unknown wallet https://t.co/WD7A1XdBJe
3 hours ago, a whale (maybe #Abraxas_Capital_Management) withdrew 30k $ETH (~$101.5M) from #Bitfinex After that, they staked all of $ETH into #Spark. 1 hour ago, #Matrixport also withdrew 5,308 $ETH (~$17.94M) from #Binance Addresses: https://t.co/IQbjaZ3737… https://t.co/AyuYP54UPW
[DEBANK] Abraxas Capital Management withdrew 30,000 #ETH (approximately $102 million) from Bitfinex today. Subsequently, the entire 30,000 $ETH was deposited into Spark and used to loan out stablecoins https://t.co/ML1KIaHovm