Chainanalysisis saying that NFT's are being used in criminal activities by individuals and businesses around the world , just like cryptocurrencies, according to the latest report. The report mentions two activities in which it has detected illegal movements related to this type of digital assets. One is the so-called laundering trade and the other is money laundering itself. These deceptive trading practices are relatively easy to execute because there are "NFT trading platforms that allow users to trade simply by connecting their wallets to the platform, without the need to identify themselves." But Chainanalysis claims-with blockchain analytics, it can "track NFT wash trading by analyzing sales of NFTs to addresses that initially funded the selling address." Fortunately, money laundering in the sale of works of art through the blockchain is easier to detect than in the physical art market (paintings, sculptures and others), where it is more difficult to quantify its volume. In contrast, with NFTs, it is possible to make "more reliable estimates", says the company.
