₿ Explore the crypto world with us...


Metaverse: A Potential Money Laundering Hub?

Experts have issued warnings about the potential for criminal organizations to launder billions in the virtual universe of the Metaverse.

Authorities reportedly thwarted a $1 billion money laundering scheme involving suspects using NFTs in the Metaverse. In an interview with the British newspaper “Sun,” Bion Bhedin, partner at First AML (anti-money laundering), revealed that criminal organizations are utilizing seemingly innocent online games like “World of Warcraft” or “Roblox” to discreetly move money into international accounts.

Bhedin explained that these organizations can convert money from illegal activities or stolen credit cards into the virtual currency of the game, a method also applicable in the Metaverse.

Metaverse: A Potential Money Laundering Hub?

According to Bhedin, by purchasing virtual items from other users, the digital currency withdrawn from the Metaverse can be converted into real currency and sent overseas.

Experts have raised concerns about the risks posed by a digital casino employing thousands of fake profiles and engaging in secret crypto transactions within the Metaverse.

Former US prosecutor John Bandler noted that the upper limit of how much money can be stored and moved in the Metaverse remains unknown. Bandler emphasized the “infinite” potential for money laundering in the Metaverse, citing examples like creating an imaginary house in the virtual world and selling it for real value as a method to transfer money.

Experts warned that, unlike the physical world, there is currently no institution like INTERPOL (International Police Organization) for the Metaverse, making it challenging to track and prevent digital crimes.

You may also like this content

Follow us on TWITTER (X) and be instantly informed about the latest developments…


Metaverse Planet is your gateway to the exciting world of artificial intelligence. On this platform, you can find everything related to artificial intelligence:

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Milla Sofia: Fascinating AI Model Shares Striking Visuals 6 Most Followed Cryptocurrencies on Twitter Web 2.0 to Web 3.0 Lacoste Enters Metaverse Artificial intelligence FAQs , About Artificial intelligence Replace your daily applications with AI-powered alternatives ✅ Our Smartphone Applications Discover the Popular Metaverse Coins Binance vs Ethereum Metaverse Ecosystem Founder of Ethereum: Vitalik Buterin How to Enter Metaverse? Gucci Chose Miley Cyrus Avatar for Web3 Fragrance! Those who have been doing Hodl lately are very comfortable. Controversial AI Sensation Milla Sofia Under Fire for Provocative Appearance India’s First Metaverse Wedding: Over 3,000 Guests Celebrate How to Make an Avatar on Instagram? Easy Explanation with Pictures Which Is Your Choice? DOGE or SHIBA ? Fan Token Ecosystem 6 Most Followed Cryptocurrencies on Twitter Top 8 NFT Sales Sites! (Create Paid And Free NFT!) What is Decentraland? (MANA) Coin Before having nft after having This Man Told Everyone To Buy Bitcoin For $1 Just 8 Years Ago Differences between crypto and bank Popular AI Coins