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Image Credit: Cryptonews

Pennsylvania Man Admits Hiding Millions in CryptoPunks NFT Income, Faces Tax Fraud Charges

  • Pennsylvania man Waylon Wilcox pleaded guilty to hiding over US$13M in income from selling 97 CryptoPunks NFTs, dodging roughly US$3.3M in taxes.
  • This marks the first major US tax evasion prosecution involving NFTs.
  • Wilcox faces up to six years in prison, with a lighter sentence expected.
  • Reports reveal he concealed his wealth while his partner solicited donations online.

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