CryptoPunks trader pleads guilty to $13m NFT tax fraud
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A Pennsylvania man, Waylon Wilcox, 45, has pleaded guilty to federal charges for failing to report millions in profits from trading non-fungible tokens (NFTs). Wilcox admitted to filing false tax returns for 2021 and 2022, underreporting more than $13 million in income from NFT trades. Most of the unreported gains came from buying and selling 97 pieces from the popular CryptoPunks collection. He filed a false return in April 2022, claiming significantly less income for 2021, reducing his tax bill by over $2.1 million. Wilcox repeated the same in October 2023 for the 2022 tax year, dodging another $1.1 million in taxes.
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