Comment on Hackers steal NFTs worth millions. In other news, NFTs worth millions.

• CaptainSpaceman@lemmy.world ⁨11⁩ ⁨months⁩ ago

  Better than the current money laundering techniques? Using art appraisals to inflate assets and move dirty money, or straight up using banks like Deutsche or Credit Suisse (RIP) to move dirty money?

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  • Socsa@sh.itjust.works ⁨11⁩ ⁨months⁩ ago

    The smart criminal understands the value of diversity.

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  • kautau@lemmy.world ⁨11⁩ ⁨months⁩ ago

    I mean yeah, it’s better to launder money using a difficult to trace digital ledger. But no, the things you mentioned won’t go away, because there’s also money in the laundering, and double dipping is the name of the game

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• shortwavesurfer@monero.town ⁨11⁩ ⁨months⁩ ago

  Mmm, considering NFTs are all on transparent blockchains, I don’t know that I would choose that particular method to accomplish that.

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  • Starbuck@lemmy.world ⁨11⁩ ⁨months⁩ ago

    The transparency is the feature that makes it great. I can buy drugs or whatever, and exchange you buy an NFT from me of equal value. Now when the bank comes and says “where did this >$15k transaction come from?” I can point to the blockchain and say that I sold my fancy monkey pic.

    This has been a thing in the physical art world for a while, complyadvantage.com/…/art-money-laundering/, this just made it easier.

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    • shortwavesurfer@monero.town ⁨11⁩ ⁨months⁩ ago

      Yeah, I know it’s happened for a while, but my big question would be why are you having to put your money back in the bank instead of leaving it on a blockchain such as Monero. The dollar is about the biggest scam around along with all other government fiat currencies.

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      • Starbuck@lemmy.world ⁨11⁩ ⁨months⁩ ago

        Because sometimes even criminals need to buy things that aren’t illegal, I guess. And the legitimate people who have those things don’t want to play games dealing with fake internet money.

        If I want to buy a jetski, the place I buy it from isn’t going to take crypto because the people that sell the parts for it don’t take crypto and the people who build it can’t pay for food in crypto.

        No matter how you personally feel about it, crypto is only useful for rug pull scams, money laundering, and black-market transactions. It’s real innovation is undoing centuries of banking regulations so that people can learn the hard way why all those regulations exist.

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      • Tar_alcaran@sh.itjust.works ⁨11⁩ ⁨months⁩ ago

        why are you having to put your money back in the bank instead of leaving it on a blockchain such as Monero.

        Because my mortgage company, supermarket and power company only take real money.

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      • ElectroNeutrino@lemmy.world ⁨11⁩ ⁨months⁩ ago

        Good and services are still primarily purchased with fiat in most of the world. You need to be able to actually use it for it to be useful, so whether or not blockchain is theoretically better doesn’t matter there if there isn’t wide enough adoption.

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      • chunkystyles@sopuli.xyz ⁨11⁩ ⁨months⁩ ago

        Hahahahahahaha!

        I’m being serious when I say this: you don’t understand what you’re talking about. I know that’s dismissive, and I’m sorry.

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