The growing popularity has fueled an increase in crimes related to non-fungible tokens (NFTs), among them money laundering and laundering trading. According to Chainalysis, a company that monitors blockchain technologies and their applications, there is significant evidence of illegal practices in the unique digital collectibles market.
In 2021, $44 billion in cryptocurrencies linked to NFTs were traded, a significant increase compared to 2020, when $106 million was recorded in 2020. .
+ Nike sues StockX platform over its brand’s NFT auction
+ Justin Bieber follows Neymar and buys NFT for R$ 6.9 million
Wash trading is the illegal practice of buying an asset from yourself in order to manipulate market value and liquidity. As the user does not need to inform his identity and the transactions are done with autonomous contracts, many people tried to commit the crime, but without success. Those who were successful, however, obtained a good margin of gains.
Chainalysis indicates that 262 users attempted wash trading in 2021, but only 41% had a share of a profit of $8.9 billion. On the other hand, those who failed to value their own assets with the practice lost approximately US$ 500,000.
Regarding money laundering, purchases of NFTs had US$ 3 million sent by illicit addresses – the amount in 2020 was US$ 500 thousand. An example is the $284,000 worth of crypto traded by Chatex, a virtual exchange whose operations are blocked by the US government.
know more
+ SP: Man dies standing, leaning against car, and scene scares residents on the coast
+ One twin became vegan, the other ate meat. Check the result
+ Reincarnation in history: an age-old belief
+ Andressa Urach asks for money on the internet: ‘Help me pay my card bill’
+ Horoscope: check today’s forecast for your sign
+ CNH: see what you need to know for the application and renewal
+ See which were the most stolen cars in SP in 2021
+ Expedition identifies giant squid responsible for ship sinking in 2011
+ Everything you need to know before buying a crockpot
+ US Agency warns: never wash raw chicken meat
+ What is known about fluorone?
+ Trick to squeeze lemons becomes a craze on social media
+ IPVA 2022 SP: see how to consult and pay the tax
#NFT #Popularity #Boosts #Money #Laundering #Wash #Trading