As the Wikipedia article mentions, Bruce Schneier pointed out the problem with this product almost a decade ago [1]:
The idea is for me to paint this stuff on my valuables as proof of ownership. I think a better idea would be for me to paint it on your valuables, and then call the police.
He hedged his position after a study came out showing it worked[2], but it's still a good example of the security mindset[3].
Of note is that the study didn't show that SmartWater actually helped to solve crimes - indeed, last I heard there was no study showing that - but it still had a deterrent effect because criminals think it helps. (I think many of them may have caught on by now though.)
The idea is for me to paint this stuff on my valuables as proof of ownership. I think a better idea would be for me to paint it on your valuables, and then call the police.
He hedged his position after a study came out showing it worked[2], but it's still a good example of the security mindset[3].
1. https://www.schneier.com/blog/archives/2005/02/smart_water.h...
2. https://www.schneier.com/blog/archives/2008/01/smartwater_wo...
3. https://www.schneier.com/blog/archives/2008/03/the_security_...