UK IRS seizes NFTs and cryptocurrencies from suspects for the first timefraud

The cost of NFT has not yet been estimated, the investigation is ongoing.

  • The regulator arrested three people and confiscated three NFTs and $6.8 thousand worth of cryptocurrencies, the BBC writes, citing a statement from the agency. The total amount of damage was $1.9 million.
  • According to the regulator, the suspects created 250 fake companies to avoid paying VAT.
  • The suspects used fictitious and stolen identities, addresses, prepaid unregistered phones, VPNs, and fake accounts to avoid getting caught.
  • According to the agency, it is adapting to new technologies and will monitor market changes to reduce cases of cryptocurrency and NFT fraud.
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