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Report – NFTs Are Increasingly Targeted by Criminals

WSJ: “Nonfungible tokens, or NFTs, are increasingly sought by criminals looking to either steal them or use them to launder illicit gains, a new report from blockchain analytics firm Elliptic said on Wednesday. More than $100 million worth of these blockchain-based assets were reported stolen in scams over the past year, according to the study. Over 4,600 NFTs were stolen in July, the most in any month since Elliptic began tracking the data in 2017, the report said. Since that year, over $8 million in proceeds from illicit activities has been laundered through platforms that facilitate the creation, buying and selling of NFTs, the report said. Another $328 million that went through the platforms came from so-called obfuscation services, such as mixers that enable users to exchange cryptocurrencies with relative anonymity, and may also include illegally made money, the report said…”


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