Following the announcement that it was filed for bankruptcy, Genesis Trading wallets have stopped processing transactions for the past 12 hours.
After declaring Chapter 11 bankruptcy in the Southern District of New York on Jan. 20, Genesis Trading appears to have stopped all wallet on-chain operations.
As of the time of publication, the wallets contain over $280 million in cryptocurrency, including 144,847 Ethereum (ETH) coins worth $220 million.
current contents of the wallet
Compound (COMP), The Sandbox (SAND), Apecoin (APE), Decentraland (MANA), Aave (AAVE), Curve DAO (CRV), Pax Dollar (USDP), The Graph (GRT), Basic Attention Token (BAT), and Uniswap (UNI) are the nine remaining top 10 cryptocurrencies held by Genesis Trading.
a sea of bogus tokens
Transactions into Genesis Trading’s wallets occurred four hours ago, but they were only bogus “GENESIS” tokens flowing in.
At the time of publication, there had been 12 hours since the previous transaction that came from Genesis Trading, which is a noticeable deviation from the wallets’ typical trend of many transactions each hour.