> If you want to take it to the next level, you could re-list the Nyan Cat NFT and then re-buy it from yourself using a second wallet that isn't obviously linked to the first.
Definitely. Blockchain is incredibly attractive for this type of fraud because wallet addresses aren't bank accounts. Anyone can create new wallets or even use tricks to hide the source of funds (send to exchange, withdraw from exchange to different wallet).
Cryptocurrencies are a dream come true for perpetrators of fraud like this. Buyer beware.
It's called wash trading and for securities, it is illegal. I dont think the Nyan Cat NFT is a security. Its more like a commodity. And yes, wash trading and money laundering via art is an age-old practice.
IANAL so I'm probably misusing the term. But it definitely feels like buying and selling the asset secretly to inflate it's market value is some sort of fraud
Cryptocurrencies are a dream come true for perpetrators of fraud like this. Buyer beware.