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The dark side of the NFT market The dark side of the NFT market

The dark side of the NFT market

According to a recent report, NFTs are becoming increasingly used for money laundering, while wash trading continues to plague the emerging market.

The dark side of the NFT market

Photo by KAL VISUALS on Unsplash

As new and exciting use cases for NFTs emerged, so did their potential for abuse, revealed a recent report by Chainalysis.

The blockchain research and analysis company investigated two forms of illicit activity in the NFT marketโ€“wash trading and money launderingโ€“uncovering worrying stats.

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