In the UK, they saw the risks of money laundering through the | NFT / BTC / DEFI News 📣
In the UK, they saw the risks of money laundering through the NFT
Non-interchangeable tokens (NFT) can be used to launder money or attract the attention of hackers, and the creation of a regulatory framework and constant monitoring will help reduce risks. This conclusion was reached at the Royal United Institute for Defense Studies (RUSI).
"NFTs are most often bought for cryptocurrency on online markets. Cryptocurrencies are commonly used for malicious activities, such as hiding the source of criminal proceeds," the report notes.
According to experts, the digital aspect of this sector creates space for "other new risks". In particular, they pointed out the possibility of creating fakes and hacker attacks. In August, a Pranksy collector purchased a work allegedly belonging to an anonymous Banksy artist. He paid 100 ETH for it, and a few hours later he was sent a duplicate token.
In September, Messari analyst Chase Devens became one of the victims of a phishing attack on the issue of tokens of the NFT-project Aurory Project on the Solana blockchain. The attacker withdrew more than $1 million from the wallets of the victims of cryptocurrencies and NFT.
"Criminals can hack user accounts on trading platforms and transfer NFT to their own accounts. After that, the hacker has the opportunity to quickly sell the stolen tokens and try to launder the proceeds," RUSI said.
The researchers see the solution to the problems listed in the report in the introduction of KYC procedures, as well as the implementation of two-factor authentication for platform users. RUSI admitted that an effective method is to create a register of stolen or fake NFTs — a similar list is used in the traditional art market, preventing the resale of such lots at auctions.
Recall that in October, an unknown person organized the pre-sale of fake NFTs issued on the Solana blockchain, and disappeared with user funds.
At the end of November, a collection of stormtrooper helmets from "Star Wars" in the form of art objects of the Art Wars project was sold as NFT without the knowledge of the artists.
