Re:NFT's aren't the answer to the problems of digital art
by barnabee on Tuesday November 09, 2021 @07:23AM
(#29160750)
Not very well laundered... the transactions and flow of money are trivially traceable.
Re:NFT's aren't the answer to the problems of digital art
by notahacker on Tuesday November 09, 2021 @08:45AM
(#29161607)
Sure, but half the point of laundering is plausible deniability. Bob now has an explanation for why he's received a lot of money in a short space of time from foreign accounts he claims to know nothing about.
Re:NFT's aren't the answer to the problems of digital art
by threeseed on Tuesday November 09, 2021 @07:27AM
(#29160796)
So it's been trivial to find all of the missing money during the many recent crypto hacks ?
Not so sure about that.
Re:NFT's aren't the answer to the problems of digital art
by hanklazard on Tuesday November 09, 2021 @07:53AM
(#29161076)
True, they’d probably be more sophisticated and use a zk privacy-type solution like https://zk.money/
Re:NFT's aren't the answer to the problems of digital art
by capableweb on Tuesday November 09, 2021 @07:20AM
(#29160712)
Your scheme suffers from the same problem as described in https://news.ycombinator.com/item?id=29160668
Bob uses artbreeder.com to generate cool looking AI art piece.
Bob lists it on OpenSea or similar site.
Alice creates a few dummy wallet addresses and makes fake bids on the NFT, eventually winning with 10 million dollars worth of eth.
Money laundered.