Acquire dirty (criminally-obtained) cash or dirty crypto. You can convert dirty cash into crypto easily by buying peer-to-peer. Deposit this into Wallet A.
Using a different wallet, Wallet B, mint an NFT and put it up for auction. You might consider paying a small sum of money to have it “sponsored” by a B-tier celebrity to make it seem more legitimate.
Using the Wallet A, outbid everyone else and buy the NFT. Pay using the dirty crypto.
Dirty crypto is transferred to Wallet B.
Repeat this process as many times as desired.
In the end, sell the crypto legitimately on a cryptocurrency exchange. Declare the crypto as income and pay tax as appropriate.
If questioned by the authorities, you claim that you mint NFTs and that they were sold genuinely at public auction, purchased by an anonymous buyer.
The full scheme works like this—