The Wall Street Journal with the report. While my headline to the post is a bit tongue-in-cheek the numbers are seriously large, reported by blockchain analytics firm Elliptic.

Says the Journal piece:

  • Nonfungible tokens, or NFTs, are increasingly sought by criminals looking to either steal them or use them to launder illicit gains
  • More than $100 million worth of these blockchain-based assets were reported stolen in scams over the past year
  • Over 4,600 NFTs were stolen in July, the most in any month since Elliptic began tracking the data in 2017
  • over $8 million in proceeds from illicit activities has been laundered through platforms that facilitate the creation, buying and selling of NFTs
  • 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

Here is the Wall Street Journal link for more detail.


Of course crypto folks (the honest ones, and the dishonest ones) make the point that fiat cash is used for illicit activities also.

Do bear in mind though:

1. Whataboutism sucks.

2. My mother said (usually to me) that two wrongs don't make a right.


nft example 25 August 2022

Here we go. The opening bid on this is a gazillion dollars. Cash only please.