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People keep talking about using NFTs for laundering but as a criminal I’d be very wary and just go with the traditional ways. Has there been any actual studies
by villasv 5y ago
People keep talking about using NFTs for laundering but as a criminal I’d be very wary and just go with the traditional ways. Has there been any actual studies on money laundering through crypto?
- supermatt 5y agoits for laundering cryptocurrencies, not "money". e.g.ransomware bitcoin payments.
- Tenoke 5y agoAny evidence that a significant fraction come from those? It'd be incredibly easy to prove if that's the case and I only ever see guesswork rather than Blockchain analysis behind those claims. Moreover, most of the big NFT investors seem to have a long history and as far as I can tell are often just collectors who are already rich from crypto.
- supermatt 5y agono idea, just clarifying what the article inferred
- villasv 5y agoRight, but there are mixing wallets and private coins so why bother with NFT?
- rrrrro 5y agoWhen money laundering, you're not only hiding the origin of the money, you also want to have a good explanation why you have it.
- NicoJuicy 5y agoJust lookup any crypto mixing service - https://en.wikipedia.org/wiki/Cryptocurrency_tumbler https://en.wikipedia.org/wiki/Cryptocurrency_tumbler Eg. from a week ago: https://portswigger.net/daily-swig/founder-of-bitcoin-money-laundering-service-admits-300-million-racket https://portswigger.net/daily-swig/founder-of-bitcoin-money-...
- villasv 5y agoBut this isn’t NFT? I was hoping for an analysis on methods and volumes in the whole ecosystem.
- leppr 5y agoIt's hard to do a quantitative study on something that has inherent deniability. The ones who could map the flows (centralized exchanges, which are de-facto tumblers), will obviously not publish public studies on this.