Singapore High Court Utilizes NFTs to Combat Hacked Crypto Wallets

Singapore judges are utilizing NFTs (Non-Fungible Tokens) in their investigations. The High Court of Singapore, in collaboration with Intelligent Sanctuary, is using NFTs to monitor suspicious crypto wallets.

Here's how it works: A Soulbound NFT is linked to the suspect wallet, serving as a "red flag" for exchanges. Additionally, they track the movement of cryptocurrencies leaving the wallet in real-time, which is a regulator's dream.

While this feature enhances the security of crypto enthusiasts, it also makes it more challenging for hackers to escape punishment. This technology is undoubtedly employed to strengthen regulation.