CryptoPunk, Tax Flunk: NFT Seller Pleads Guilty In $13M Fraud Case
Posted On April 14, 2025
A Pennsylvania man could spend up to six years in prison after pleading guilty to concealing over $13 million in NFT sales from tax authorities.
What Happened: Waylon Wilcox, 45, admitted to filing false individual income tax returns in 2022 and 2023, according to a Department of Justice statement released Friday and reported by Fortune on Monday.
The DOJ alleges Wilcox sold 97 NFTs from the iconic CryptoPunks collection between 2021 and 2022, generating over $13 million in proceeds that he failed to report to the IRS.
“When a taxpayer sells an NFT, including a Punk, then the taxpayer must report sales proceeds and any gains or losses from the …
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