NFTs Are A Money Laundering Scheme For Rich People, Says Crypto Analyst
NFTs have continued to grow in popularity since their inception. So many artists and creative people have now taken the medium to share and sell their works. It has given independent creatives an avenue to sell their creations. And still, get all of the proceeds and credits to themselves. The space has seen some impressive […]
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NFT’s could be a vehicle to legitimize ill-gotten gains for the crypto elite. The nonfungible token space has been a hive of activity over the past month or so but there could be more going on than meets the eye as concerns emerge over the sector’s involvement in money laundering and tax evasion.Crypto investor and uber-bearish crypto commentator Mr. Whale has drawn attention to the darker side of the burgeoning NFT space. In a blog post earlier this week, the Bitcoin early adopter attributed the popularity and notoriety of NFTs to their ability to facilitate money laundering and tax....
Spider-Man NFTs, a digital rock that costs more than a car, and the first dive of collegiate engagement in non-fungible tokens. It’s just another week in NFTs. However, it’s not all sunshine and rainbows. Popular crypto analyst Mr. Whale shared some sentiments this week that describe NFTs as pure money laundering schemes. Let’s take a […]
An individual claiming to be behind the recent Bitfinex (BFX) hack has announced the giveaway of 1,000 bitcoins, prompting those within the online community that this could be a money laundering scheme. Earlier this week, the Hong Kong-based bitcoin exchange revealed that it had suffered a major security breach after 119,756 bitcoins, amounting to around $65 million, had been stolen forcing a shutdown of its website and trading. The Reddit user, who goes by the name rekcahxfb, which spells bfxhacker backward, made the recent statement in a post that ‘one lucky winner will receive 1,000 BTC....
Satoshi Citadel Industries (SCI) co-founder and CEO John Bailon in an interview with DEALSTREETASIA has opened up on issues that the Bitcoin community is seeking answers to, of late. Speaking at length on several issues, he said that those claiming Bitcoin to be a pyramid scheme or a get rich scheme have a wrong perception of the digital currency. Adding further he explained that
An artist from Latvia is under investigation for allegedly selling NFTs, or non-fungible tokens, to launder money, for which he may get up to 12 years in prison. The authorities have blocked his bank accounts and launched an investigation without even notifying him.
Artist Who Sold Over 3,500 NFTs Prosecuted for Money Laundering in Latvia
Latvian artist and developer Ilya Borisov is awaiting trial amid accusations he used digital collectibles to launder €8.7 million ($8.8 million), as investigators claim to have established. He denies any wrongdoing and is determined to....