I really enjoy reading about the investigations that follow any big crypto heist, where they track the stolen money through various exchanges etc. The Swindled podcast just did one about a pretty poor attempt to launder crypto (see Razzlekhan) and Darknet diaries did one on the much more competent (suspected North Korean) heist of eth from Axie Infinity and their various laundering efforts including through Tornado cash. It’s surprisingly transparent in a lot of ways. It seems like stealing the money is often the comparatively easy part, and getting their huge sums out of crypto and into something they can use (while thousands watch the money like hawks) is much harder.
There are plenty of people who want a digital equivalent to cash from a privacy perspective.
Crypto is the exact opposite of private. You literally share all your transactions with everyone.
I really enjoy reading about the investigations that follow any big crypto heist, where they track the stolen money through various exchanges etc. The Swindled podcast just did one about a pretty poor attempt to launder crypto (see Razzlekhan) and Darknet diaries did one on the much more competent (suspected North Korean) heist of eth from Axie Infinity and their various laundering efforts including through Tornado cash. It’s surprisingly transparent in a lot of ways. It seems like stealing the money is often the comparatively easy part, and getting their huge sums out of crypto and into something they can use (while thousands watch the money like hawks) is much harder.
That, my friends, is what NFT are is perfect at.
“Oh, what, tax authority? No, I didn’t steal this money. I earned it legit by selling my newly-minted monkey NFT to some sucker for 100 ETH.”