Cryptopunks merchant pleads guilty to 13 million NTF tax deceptions

Pennsylvania’s man admitted to federal charges after failing to report millions in profit from trading non-fungible tokens.

At 11 April announcementThe Office of the United States Prosecutor for the Middle Province of Pennsylvania said Vailon Wilcok, 45, received false tax returns for 2021. and 2022. Years, implies more than $ 13 million in NFT revenue.

Most unpleasant gains came from buying and selling 97 pieces from the popular collection of Criptopunks.

According to the prosecutors, Vilcok filed a false return in April 2022. years, he claims that it is significantly less income for 2021. year than he actually made. Movement reduced the tax account for over $ 2.1 million. He did again in October 2023. For the tax year 2022. years, avoiding another 1.1 million dollars.

A total of Wilcox insufficiently suspended about $ 8.5 million in 2021. and 4.6 million dollars in 2022. Years. He falsely answered “no” to the question of both returns if he traded by digital property.

Federal investigators Align Vilcok made about 7.4 million dollars from sales 62 cryptopunks in 2021. and 4.9 million dollars from 35 punk sales in 2022. Years.

The case was investigating the internal service of income and its departments for a criminal investigation. According to the release, taxpayers are expected to report any profit or losses from the NFT sales as part of their taxable income.

“In today’s economic environment, it is more important than ever that American people feel confident that everyone plays rules and pay taxes,” Filadelphia Field Office Special Mean added added by the Iuri Rigid.

Vilcok could face a maximum sentence of up to six years in prison, along with supervised release and possible fines. The judge will determine his final sentence in accordance with federal statutes and guidelines on sentences and guidelines.

NFT Sales

Wilcok’s case comes at a time when the NTF market is already under pressure, with weekly sales volumes sliding. As before export From Cripto.Nevs, NFT sales volume fell by 4.7% last week at 94.7 million dollars, extending a decline of $ 102.8 million a week.

The activity also fell, with NFT customers and sellers who also feature K1 2025 Trade in storage 24% of the previous quarter, according to Dappri.

Even the top collections like cryptopunky feel strain. Last week, Criptopunk # 3100, one of the nine foreign punks, was $ 10 million loss for sale. At that time, the collection price was reduced by 67% of the top 2021. years.