How to Launder Money With NFTs
For educational purposes of course
Some call it God. Others call it Bitcoin.
Cryptocurrency has replaced religion. There will be no turning back in a few years. Actually there’s no turning back now. Not when people are selling virtual land for millions or Nyan Cat for half-a-mil.
Unfortunately, the space of non-fungible tokens (or unique digital art and collectibles) is tainted. NFTs are being used for sleeeezery.
Hundreds, if not thousands of collectors are utilizing the anonymousness and decentralization of NFTs — more commonly known as the blockchain — to store their illegal money. Some even describe NFTs as the “best money laundering method in the cryptocurrency world.”
You’ll frequently see someone buy an NFT for $100,000 and a few days later sell it for $600. It’s shady. And it’s not going to stop.
So, how does it work?
How to Launder Money W/ Nyan Cat
Death and taxes. Who needs them?
While we still can’t fix the first problem, criminals have taken care of the second.
