The insolvency administrator of bankrupt digital protocol Alameda Research has allegedly realized more than $11.5 million deficit since the takeover of the protocol’s exchange accounts.
On Monday, digital review firm Arkham Intelligence published tweets stating that a wallet that is being handled by an insolvency administrator has recorded major losses as a result of insolvencies, a portion of which were avoidable deficits.
To exemplify this, Arkham pointed out an account that ends with 0x997 with a previous short of 9,000 Ethereum coins ($10.8 million) tied to a $20 million worth USD Coin of security and a $4 million worth of DAI token, giving a nett balance of $15.2 million as at the time insolvency administrators took charge.
Following a series of insolvencies, the accounts now show a monetary worth of $1.1 million of short position Ethereum coin tied to $1.4 million USDC, giving a nett balance of $300,000.
Arkham noted this to be the latest outcome in a “series of market movements that have busted multiple Alameda positions left open after bankruptcy.
Following a series of other insolvency hitches, insolvency administrators in charge of Alameda Research were previously published to have incurred $72,000 losses in crypto properties, on January 13, in an attempt to merge finances into one wallet on the open-source liquidity platform Aave.