Here’s How NFTs are Used for Money Laundering

Learn how to launder money (for research purposes)

This past year we saw an explosion in digital art specifically known as NFTs (Non-Fungible Tokens). Just like real art can be bought and sold for cash, NFTs are no different. The difference is that NFTs are saved and stored digitally rather than physically. When you buy an NFT you are buying a unit of data associated with a digital token that is recorded onto a blockchain. For example, you may buy an NFT whose data represents the contents of a jpeg or gif. The image…