Tuesday, March 28, 2023
  • Login
EthozEdge
No Result
View All Result
  • Home
  • ETHO News
  • EVM News
    • Avalanche Network
    • Ethereum
    • Fantom Opera Chain
    • Harmony Chain
    • Huobi Eco Chain
    • Polygon Chain
  • Crypto News
    • Altcoin News
    • Bitcoin
    • Blockchain
    • Crypto Exchanges
    • Crypto Mining
    • Crypto Regulation News
    • DeFi
    • NFT
    • Metaverse
    • Scam News
    • Web 3.0
Cryptocurrency Marketcap
  • Home
  • ETHO News
  • EVM News
    • Avalanche Network
    • Ethereum
    • Fantom Opera Chain
    • Harmony Chain
    • Huobi Eco Chain
    • Polygon Chain
  • Crypto News
    • Altcoin News
    • Bitcoin
    • Blockchain
    • Crypto Exchanges
    • Crypto Mining
    • Crypto Regulation News
    • DeFi
    • NFT
    • Metaverse
    • Scam News
    • Web 3.0
No Result
View All Result
EthozEdge
No Result
View All Result
Home Crypto News Scam News

UK authorities confiscate three NFTs in connection to a tax fraud case

by ethozedge
February 14, 2022
in Scam News
Reading Time: 2 mins read
A A
0
Share on FacebookShare on Twitter


  • The UK tax authority seized three NFTs in relation to suspected VAT fraud
  • Three persons have been arrested in connection to the incident
  • The HMRC cautioned against attempts to conceal assets using crypto

The United Kingdom’s tax authority, Her Majesty’s Revenue and Customs (HMRC) has conducted an NFT seizure in a suspected event of VAT repayment fraud.

According to a report first sent out by BBC, the HMRC confiscated three NFTs & $6,750 worth of other crypto assets and arrested three individuals with alleged involvement in the $1.89 million swindling attempt. The tax authority did not reveal the names of the individuals but said they used 250 illegitimate firms to conduct the suspected fraud.

Following the apprehensions, the authorities have established an investigation into the fraudsters’, who are thought to have employed sophisticated methods to mask their true identities. The authorities detailed that they used fake identification, unregistered phones, falsified invoices, VPNs, counterfeit addresses, among other means to obscure who they are.

While this is only the first seizure of its kind (NFTs) in the UK, Deputy Director of Economic Crime in the Fraud Investigation Service of HMRC Nick Sharp warned any persons thinking of pulling such a move – using cryptocurrency assets to conceal money.

“[The seizure] serves as a warning to anyone who thinks they can use crypto assets to hide money from HMRC. We constantly adapt to new technology to ensure we keep pace with how criminals and evaders look to conceal their assets,” Sharp cautioned.

NFTs could be headed the same path as crypto

NFTs have largely stayed in the clear unlike cryptocurrencies when it comes to governmental action on blockchain-related assets. While crypto has been seized in several instances and banned in up to nine countries worldwide, NFTs have seen a much softer stance. Thailand is the only country to sanction an NFT ban.

However, the sector is becoming a growing hotspot of crime and fraudulent activity. The United States Department of the Treasury recently sent out a report that reviewed the use of art in money laundering and terror financing. The US authority warned that with a booming NFT sector, digital art could be used to facilitate laundering and fund terror activities as the price of the collectibles isn’t market-dependent but rather is determined by the buyer/ seller.

The Department also cautioned that even though NFTs can pinpoint their owners, traditional art platforms (galleries and auction houses) lack technical know-how of the underlying tech to establish customer identities.



Source link

Tags: authoritiesbitcoin newscaseconfiscateconnectioncrypto analysiscrypto newsEthoz EdgefraudLatest bitcoin newslatest crypto newsNFTstax
Share76Tweet47

Related Posts

Montenegro Vice President announces arrest of individual suspected to be Do Kwon: Confirmed

by ethozedge
March 23, 2023
0

Ad Update: Korean authorities have since confirmed that the detained person is Do Kwon.Montenegro Vice President Filip Adzic confirmed the...

AI dApp Harvester Keeper gets hacked for almost $1M

by ethozedge
March 20, 2023
0

Ad The recently launched AI trading app called Harvest Keeper saw almost $1 million of users’ funds drained through a...

Crypto investment fraud in the US hits record $2.57B – up 183% YoY

by ethozedge
March 16, 2023
0

Cryptocurrency investment fraud in the U.S. was up almost 3x year-over-year in 2022 — making investment fraud the “costliest scheme...

ZachXBT bids adieu to crypto community requests

by ethozedge
March 9, 2023
0

Ad In a recent tweet, on-chain detective ZachXBT said he “sincerely meant” he was ending community requests for help with...

DeFi platforms lost over $21M to hackers in February: DefiLlama data

by ethozedge
March 6, 2023
0

One of the largest is the flash loan reentrancy attack on Platypus Finance. DefiLlama has highlighted seven noteworthy hacks in...

Load More
  • Trending
  • Comments
  • Latest

🔴 Bank of America Bets on Crypto

April 11, 2022

Pomelo Launches Family Credit Cards to Combine Credit and International Money Transfer

August 16, 2022

How to Add Polygon (MATIC) to Your MetaMask Wallet

May 28, 2022

The Sandbox Price Prediction 2022-2030: HODL or DUMP?

May 25, 2022

Successful Beta Service launch of SOMESING, ‘My Hand-Carry Studio Karaoke App’

0

At least 54 apes were stolen in BAYC Instagram hack

0

Binance Introduces New Crypto Card for Ukrainian Refugees

0

55,000 Meta Cricket League NFTs sell out in nine minutes

0

Polygon announces the launch of open-source zkEVM

March 28, 2023

Ripple Contributes To New Digital Euro Whitepaper By DEA

March 28, 2023

THORChain halts Operations Due To Network Vulnerability Report

March 28, 2023

Disney disbands entire metaverse team – 50 staff jobs cut

March 28, 2023
Facebook Twitter LinkedIn Tumblr RSS
EthozEdge

Find the latest Bitcoin, Ethereum, blockchain, crypto, Business, Fintech News, interviews, and price analysis at EthozEdge

CATEGORIES

  • Altcoin News
  • Avalanche Network
  • Binance Smart Chain
  • Bitcoin
  • Blockchain
  • Crypto Exchanges
  • Crypto Mining
  • Crypto Regulation News
  • DeFi
  • Ethereum
  • EVM News
  • Fantom Opera Chain
  • Harmony Chain
  • Huobi Eco Chain
  • Metaverse
  • NFT
  • Polygon Chain
  • Scam News
  • Web 3.0
  • XDai Chain

SITE MAP

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 - EthozEdge.
EthozEdge The Crypto is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • ETHO News
  • EVM News
    • Avalanche Network
    • Ethereum
    • Fantom Opera Chain
    • Harmony Chain
    • Huobi Eco Chain
    • Polygon Chain
  • Crypto News
    • Altcoin News
    • Bitcoin
    • Blockchain
    • Crypto Exchanges
    • Crypto Mining
    • Crypto Regulation News
    • DeFi
    • NFT
    • Metaverse
    • Scam News
    • Web 3.0

Copyright © 2022 - EthozEdge.
EthozEdge The Crypto is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • JDBJDB(JDB)$0.021575-0.61%
  • bitcoinBitcoin(BTC)$27,035.000.81%
  • ethereumEthereum(ETH)$1,745.622.29%
  • USDEXUSDEX(USDEX)$1.07-0.47%
  • tetherTether(USDT)$1.000.32%
  • binancecoinBNB(BNB)$313.02-1.31%
  • usd-coinUSD Coin(USDC)$1.000.13%
  • rippleXRP(XRP)$0.509.55%
  • cardanoCardano(ADA)$0.3600715.62%
  • staked-etherLido Staked Ether(STETH)$1,743.452.20%
  • dogecoinDogecoin(DOGE)$0.0729480.82%
  • matic-networkPolygon(MATIC)$1.061.92%
  • solanaSolana(SOL)$20.363.60%
  • binance-usdBinance USD(BUSD)$1.000.39%
  • polkadotPolkadot(DOT)$6.003.24%
  • litecoinLitecoin(LTC)$87.15-1.90%
  • shiba-inuShiba Inu(SHIB)$0.000010-0.12%
  • tronTRON(TRX)$0.0640862.75%
  • avalanche-2Avalanche(AVAX)$16.612.05%
  • daiDai(DAI)$1.000.96%
  • uniswapUniswap(UNI)$5.743.21%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$27,065.000.51%
  • chainlinkChainlink(LINK)$6.880.54%
  • cosmosCosmos Hub(ATOM)$11.265.30%
  • leo-tokenLEO Token(LEO)$3.380.29%
  • ToncoinToncoin(TON)$2.05-2.10%
  • ethereum-classicEthereum Classic(ETC)$20.033.98%
  • moneroMonero(XMR)$154.53-1.31%
  • okbOKB(OKB)$42.682.24%
  • stellarStellar(XLM)$0.0956384.87%
  • Aerarium FiAerarium Fi(AERA)$7.15-13.10%
  • bitcoin-cashBitcoin Cash(BCH)$121.432.30%
  • filecoinFilecoin(FIL)$5.412.82%
  • true-usdTrueUSD(TUSD)$1.001.35%
  • AptosAptos(APT)$11.131.13%
  • lido-daoLido DAO(LDO)$2.152.24%
  • hedera-hashgraphHedera(HBAR)$0.0591912.52%
  • quant-networkQuant(QNT)$120.440.46%
  • crypto-com-chainCronos(CRO)$0.0669530.68%
  • nearNEAR Protocol(NEAR)$1.871.75%
  • vechainVeChain(VET)$0.0221501.87%
  • apecoinApeCoin(APE)$4.075.34%
  • ArbitrumArbitrum(ARB)$1.16-2.65%
  • algorandAlgorand(ALGO)$0.2009621.14%
  • internet-computerInternet Computer(ICP)$4.781.91%
  • eosEOS(EOS)$1.112.37%
  • blockstackStacks(STX)$0.88-4.21%
  • the-graphThe Graph(GRT)$0.1327000.92%
  • fantomFantom(FTM)$0.410764-0.30%
  • the-sandboxThe Sandbox(SAND)$0.613.36%
  • fraxFrax(FRAX)$1.000.57%
  • elrond-erd-2MultiversX(EGLD)$41.361.71%
  • decentralandDecentraland(MANA)$0.572.74%
  • aaveAave(AAVE)$70.221.81%
  • tezosTezos(XTZ)$1.080.69%
  • theta-tokenTheta Network(THETA)$0.982.85%
  • immutable-xImmutableX(IMX)$1.055.27%
  • flowFlow(FLOW)$0.932.29%
  • axie-infinityAxie Infinity(AXS)$8.162.67%
  • neoNEO(NEO)$12.340.96%
  • rocket-poolRocket Pool(RPL)$43.167.51%
  • kucoin-sharesKuCoin(KCS)$8.280.14%
  • paxos-standardPax Dollar(USDP)$1.001.98%
  • BitDAOBitDAO(BIT)$0.520.71%
  • havvenSynthetix Network(SNX)$2.340.51%
  • WhiteBIT TokenWhiteBIT Token(WBT)$5.020.01%
  • usddUSDD(USDD)$0.99-0.40%
  • terra-lunaTerra Luna Classic(LUNC)$0.0001210.96%
  • curve-dao-tokenCurve DAO(CRV)$0.902.42%
  • klay-tokenKlaytn(KLAY)$0.2238290.70%
  • gatechain-tokenGate(GT)$4.880.75%
  • conflux-tokenConflux(CFX)$0.3312135.11%
  • bitcoin-cash-svBitcoin SV(BSV)$35.391.14%
  • optimismOptimism(OP)$2.165.01%
  • pancakeswap-tokenPancakeSwap(CAKE)$3.61-0.55%
  • sapphireSapphire(SAPP)$0.7035.32%
  • gmxGMX(GMX)$74.8013.03%
  • mina-protocolMina Protocol(MINA)$0.73-2.15%
  • dashDash(DASH)$55.800.48%
  • CloutContractsCloutContracts(CCS)$52.461,000.00%
  • chilizChiliz(CHZ)$0.1159632.12%
  • makerMaker(MKR)$674.755.41%
  • bittorrentBitTorrent(BTT)$0.0000010.95%
  • huobi-tokenHuobi(HT)$3.580.87%
  • ecasheCash(XEC)$0.0000301.98%
  • iotaIOTA(MIOTA)$0.2032752.41%
  • xdce-crowd-saleXDC Network(XDC)$0.0401543.12%
  • Bitget TokenBitget Token(BGB)$0.386185-0.33%
  • frax-shareFrax Share(FXS)$7.551.54%
  • compound-ethercETH(CETH)$34.971.67%
  • EdgecoinEdgecoin(EDGT)$1.000.16%
  • FlareFlare(FLR)$0.04221125.52%
  • pax-goldPAX Gold(PAXG)$1,985.051.06%
  • Tokenize XchangeTokenize Xchange(TKX)$6.130.67%
  • tether-goldTether Gold(XAUT)$1,978.690.81%
  • singularitynetSingularityNET(AGIX)$0.4027601.14%
  • trust-wallet-tokenTrust Wallet(TWT)$1.12-0.82%
  • binaryxBinaryX(BNX)$165.94-5.94%
  • Halo CoinHalo Coin(HALO)$0.057352-0.04%
  • compound-usd-coincUSDC(CUSDC)$0.0228040.47%
  • osmosisOsmosis(OSMO)$0.793.54%
  • mask-networkMask Network(MASK)$5.761.56%
  • zilliqaZilliqa(ZIL)$0.0264073.00%
  • loopringLoopring(LRC)$0.3397502.05%
  • 1inch1inch(1INCH)$0.502.60%
  • radixRadix(XRD)$0.040485-1.71%
  • nexoNEXO(NEXO)$0.733.37%
  • render-tokenRender(RNDR)$1.120.71%
  • Rocket Pool ETHRocket Pool ETH(RETH)$1,864.542.46%
  • cdaicDAI(CDAI)$0.0222421.17%
  • thorchainTHORChain(RUNE)$1.33-0.36%
  • arweaveArweave(AR)$7.892.69%
  • kavaKava(KAVA)$0.866.12%
  • gemini-dollarGemini Dollar(GUSD)$1.000.28%
  • KaspaKaspa(KAS)$0.02190414.63%
  • oec-tokenOKT Chain(OKT)$21.45-0.31%
  • btse-tokenBTSE Token(BTSE)$2.37-0.87%
  • zcashZcash(ZEC)$35.972.54%
  • convex-financeConvex Finance(CVX)$5.002.28%
  • dydxdYdX(DYDX)$2.4110.68%
  • casper-networkCasper Network(CSPR)$0.0340490.49%
  • enjincoinEnjin Coin(ENJ)$0.3700020.39%
  • DeFiChainDeFiChain(DFI)$0.530.11%
  • EthereumPoWEthereumPoW(ETHW)$3.342.56%
  • DogechainDogechain(DC)$0.001787-24.98%
  • basic-attention-tokenBasic Attention(BAT)$0.2408622.26%
  • fetch-aiFetch.ai(FET)$0.3414041.09%
  • WEMIXWEMIX(WEMIX)$1.442.71%
  • nemNEM(XEM)$0.0375081.93%
  • ethereum-name-serviceEthereum Name Service(ENS)$12.883.66%
  • baby-doge-coinBaby Doge Coin(BABYDOGE)$0.000000-1.11%
  • Nexus MutualNexus Mutual(NXM)$48.371.64%
  • FLOKIFLOKI(FLOKI)$0.000033-3.80%
  • qtumQtum(QTUM)$3.021.72%
  • Aleph ZeroAleph Zero(AZERO)$1.430.81%
  • woo-networkWOO Network(WOO)$0.1886495.42%
  • BeldexBeldex(BDX)$0.0605913.86%
  • theta-fuelTheta Fuel(TFUEL)$0.0513023.33%
  • holotokenHolo(HOT)$0.0017401.99%
  • terra-luna-2Terra(LUNA)$1.261.91%
  • injective-protocolInjective(INJ)$3.801.10%
  • decredDecred(DCR)$19.92-0.83%
  • celoCelo(CELO)$0.606.60%
  • kusamaKusama(KSM)$32.642.95%
  • galaGALA(GALA)$0.0386835.36%
  • ravencoinRavencoin(RVN)$0.024329-0.29%
  • olympusOlympus(OHM)$10.250.48%
  • audiusAudius(AUDIO)$0.28657611.64%
  • Gains FarmGains Farm(GFARM2)$7,930.530.00%
  • compound-governance-tokenCompound(COMP)$41.232.43%
  • MagicMagic(MAGIC)$1.322.67%
  • gnosisGnosis(GNO)$107.532.39%
  • safemoonSafeMoon [OLD](SAFEMOON)$0.000000-4.73%
  • oasis-networkOasis Network(ROSE)$0.0547522.13%
  • yearn-financeyearn.finance(YFI)$8,321.514.51%
  • liquity-usdLiquity USD(LUSD)$1.01-0.03%
  • balancerBalancer(BAL)$6.714.23%
  • linkLINK(LN)$39.540.18%
  • flex-coinFLEX Coin(FLEX)$2.651.65%
  • AstarAstar(ASTR)$0.0586340.20%
  • IdeaChainIdeaChain(ICH)$4.730.00%
  • chiaChia(XCH)$37.08-0.78%
  • ftx-tokenFTX(FTT)$1.89-21.52%
  • ankrAnkr Network(ANKR)$0.0309411.88%
  • SSV NetworkSSV Network(SSV)$35.68-1.51%
  • Crypto Gladiator LeagueCrypto Gladiator League(CGL)$0.16194440.57%
  • nucypherNuCypher(NU)$0.190313-1.03%
  • bitcoin-goldBitcoin Gold(BTG)$14.17-9.60%
  • Access ProtocolAccess Protocol(ACS)$0.008347-1.49%
  • omisegoOMG Network(OMG)$1.762.55%
  • huobi-btcHuobi BTC(HBTC)$27,039.000.83%
  • Bone ShibaSwapBone ShibaSwap(BONE)$1.03-4.98%
  • harmonyHarmony(ONE)$0.0191740.49%
  • AstraferAstrafer(ASTRAFER)$1.490.58%
  • Manchester City Fan TokenManchester City Fan Token(CITY)$11.87-1.78%
  • DAO MakerDAO Maker(DAO)$1.55-2.77%
  • stepnSTEPN(GMT)$0.3672672.92%
  • bloxBlox(CDT)$0.345311-7.66%
  • world-mobile-tokenWorld Mobile Token(WMT)$0.2920233.33%
  • iotexIoTeX(IOTX)$0.0243980.34%
  • convex-crvConvex CRV(CVXCRV)$0.790.30%
  • escoin-tokenEscoin(ELG)$2.872.93%
  • Meerkat SharesMeerkat Shares(MSHARE)$11,715.17-5.03%
  • golemGolem(GLM)$0.225314-0.09%
  • tether-eurtEuro Tether(EURT)$1.091.05%
  • justJUST(JST)$0.0251771.82%
  • Staked LunaStaked Luna(STLUNA)$88.35-0.49%
  • Gains NetworkGains Network(GNS)$7.227.85%
  • Frax EtherFrax Ether(FRXETH)$1,744.562.12%
  • moonbeamMoonbeam(GLMR)$0.356915-0.97%
  • inSure DeFiinSure DeFi(SURE)$0.0080860.99%
  • BlurBlur(BLUR)$0.511.61%
  • ecomiECOMI(OMI)$0.000783-1.23%
  • jasmycoinJasmyCoin(JASMY)$0.0044471.37%
  • band-protocolBand Protocol(BAND)$1.693.74%
  • terrausdTerraClassicUSD(USTC)$0.0212411.74%
  • kadenaKadena(KDA)$0.921.81%
  • Ankr Staked ETHAnkr Staked ETH(ANKRETH)$1,925.73-2.13%
  • wavesWaves(WAVES)$2.041.06%
  • perpetual-protocolPerpetual Protocol(PERP)$2.92-2.77%