The UK tax authority seized three non-fungible tokens (NFTs), a first for the country.
The NFTs in question were seized as part of a £1.4m fraud investigation, according to a statement by the UK Revenue and Customs Authority (HMRC).
The suspects were accused of using some fake IDs and invoices from the victims. receive more VAT than they should and a total of 250 fake company names were reported in the investigation.
Nick Sharp, from the financial crimes division of Revenue and Customs, said in a statement today: “Our seizure of the non-fungible token is a warning to anyone who thinks they can hide from HMRC using crypto assets.” said and “We are constantly adapting to new technologies to keep up with criminals trying to hide their assets.” added your comment.
With this investigation, the Revenue and Customs Administration became the first official institution to confiscate an NFT in the UK, while a further £5,000 worth of crypto assets were seized as part of the investigation, in addition to three NFTs. As the investigation continues, the seized NFTs have not yet been assessed.