Market size of NFT money laundering 2020-2021
Money laundering on NFT marketplaces was estimated to be worth more than one million USD in both the third as well as the fourth quarter of 2021. This estimate was based on cryptocurrency addresses used in trades that were known to be involved either with theft, scam, malware, the darknet, or were put under legal sanctions. The source does not clarify whether these known illicit addresses capture the full market or not. Note that figures on crypto theft are not the same as those for money laundering in NFTs: Hacks on the Poly Network in August 2021 or Wormhole in February 2022 are different cases to what is shown in this figure.
