In a significant development within the crypto recovery landscape, OKX has transferred more than $60 million in digital assets to a wallet associated with the now-bankrupt Alameda Research over the past five hours. This move, tracked via on-chain intelligence platform Arkham Intelligence, underscores ongoing efforts to return funds tied to the collapse of FTX and its affiliated entities.
The transaction batch consisted of 16 separate transfers, including 10 deposits of $5 million in USDT each**, along with **337,859 MASK tokens**—valued at approximately **$1.3 million—sent directly to the Alameda-linked address. These actions reaffirm OKX’s public commitment to cooperate with legal and regulatory bodies in the restitution process following one of the most disruptive collapses in cryptocurrency history.
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OKX’s Role in Asset Repatriation
Back in March 2025, OKX announced its intention to return $157 million in frozen assets belonging to Alameda Research. At the time, the exchange clarified that these funds were originally seized after the November 2022 collapse of FTX, when regulatory scrutiny intensified around platforms holding assets linked to the failed exchange.
As part of its transparency and compliance strategy, OKX pledged full cooperation with FTX creditors, debt recovery teams, and law enforcement agencies to identify and return any funds traceable to Alameda or FTX. The recent $60 million transfer marks a substantial step forward in fulfilling that promise.
This level of collaboration is increasingly vital as decentralized finance (DeFi) ecosystems face growing pressure to demonstrate accountability. By proactively returning assets, OKX not only strengthens trust among users but also sets a precedent for responsible behavior in crisis management.
Alameda’s Recovered Holdings: A Snapshot
According to the latest on-chain data, the Alameda wallet has seen a notable influx of digital assets over the past week. In addition to the recent OKX deposits, the wallet received:
- Over 1 million Stargate (STG) tokens
- More than 5 billion GPEPE meme coins from an unidentified sender
These inflows highlight continued interest—and potential speculation—around Alameda’s remaining holdings, even in bankruptcy.
Currently, the largest component of Alameda’s portfolio is $61.40 million in USDT, making it the top reserve asset. Other major holdings include:
- 100 million BitDAO (BIT) tokens, valued at $48.61 million
- 19,292 ETH, worth approximately $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 wallet holds various altcoins such as Lido (LDO), FTX Token (FTT), and Serum (SRM), reflecting the firm’s historically diversified investment strategy during its operational peak.
In total, Alameda’s crypto portfolio now amounts to approximately $285.86 million, based on current market valuations.
FTX Creditors’ Broader Recovery Efforts
The return of assets by OKX occurs against a broader backdrop of aggressive recovery initiatives led by FTX creditors. To date, the bankruptcy estate has pursued legal action to reclaim $3.9 billion from Genesis Global Capital, alleging improper transfers prior to FTX’s downfall.
Beyond litigation, the estate has been actively liquidating assets, including digital collectibles, equity stakes, and tokenized holdings, to maximize returns for affected customers and investors.
There is also mounting speculation about a potential relaunch of FTX operations. A recent court filing revealed plans to revive FTX Japan, signaling possible steps toward restructuring rather than complete dissolution. While no official timeline has been released, this development has sparked renewed discussion about the future viability of once-dominant crypto platforms after insolvency.
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Why This Matters for the Crypto Ecosystem
The OKX-Alameda transaction is more than just a balance sheet adjustment—it reflects evolving norms in crypto governance, exchange responsibility, and on-chain transparency.
Unlike traditional financial systems where asset tracing can take months or years, blockchain analytics tools like Arkham Intelligence enable near real-time monitoring of fund movements. This transparency empowers regulators, investors, and users alike to track recovery progress and hold entities accountable.
Moreover, OKX’s decision to return funds without contest reinforces a critical principle: custodial platforms must act as stewards of user assets, even when those assets originate from failed counterparties.
As decentralized networks mature, such actions will likely become benchmarks for ethical conduct—especially in times of systemic stress.
Frequently Asked Questions (FAQ)
Q: Why did OKX send money to Alameda if it's bankrupt?
A: OKX is returning funds that originally belonged to Alameda Research but were frozen after the FTX collapse. As part of its compliance and cooperation with legal proceedings, OKX identified these assets and is facilitating their return to support creditor recovery efforts.
Q: How was the $60 million transfer verified?
A: The transaction was tracked using on-chain analytics from Arkham Intelligence, which monitors wallet activity across blockchains. All transfers are publicly verifiable through blockchain explorers.
Q: What types of cryptocurrencies were sent besides USDT?
A: In addition to $50 million in USDT, OKX transferred approximately 337,859 MASK tokens—worth around $1.3 million at current prices.
Q: Is Alameda Research still operating?
A: No. Alameda Research filed for bankruptcy alongside FTX in November 2022. Its remaining operations are managed under court supervision as part of the liquidation and asset recovery process.
Q: Could this lead to other exchanges returning funds?
A: Yes. OKX’s actions may set a precedent for other platforms holding legacy assets linked to FTX or Alameda. Increased regulatory pressure and public scrutiny make proactive restitution a strategic move for exchanges aiming to maintain trust.
Q: What happens to the recovered funds?
A: All returned assets are managed by the FTX bankruptcy estate and will be distributed to creditors according to court-approved procedures. Distribution timelines depend on ongoing litigation and asset valuation processes.
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Final Thoughts
The transfer of over $60 million from OKX to an Alameda Research wallet is a pivotal moment in the long-running aftermath of the FTX collapse. It demonstrates that major players in the crypto industry are stepping up to support transparency, accountability, and fair restitution.
As blockchain technology continues to enable unprecedented levels of auditability, exchanges that act swiftly and ethically during crises stand to gain long-term credibility.
With FTX creditors pushing forward on multiple fronts—from lawsuits to subsidiary relaunches—the road to recovery remains complex. Yet milestones like this one offer tangible proof that progress is being made.
For investors and users watching closely, these developments reinforce a crucial takeaway: in crypto, trust is earned not just through innovation, but through integrity in adversity.