🚨 $13M Tax Fraud - CryptoPunk Millionaire Faces Prison!

Waylon Wilcox made millions flipping CryptoPunks - and now he might be flipping a prison sentence. The 45-year-old NFT trader just pled guilty to underreporting nearly $13 million in profits from his CryptoPunk trades across 2021 and 2022. The feds say he sold 97 NFTs, pocketing over $12.3 million in profits, but falsely told the IRS he hadn’t touched crypto at all.

Now he’s facing up to six years in prison, hefty fines, and supervised release - all for trying to dodge roughly $3.2 million in taxes. This is one of the first high-profile NFT tax cases, and it’s a loud signal from the IRS: play by the rules, or pay the price.

With crypto tax enforcement tightening and new third-party reporting requirements now live in the U.S., it’s clear the IRS is watching, so make sure you're on the legal side or fully decentralized and incognito (which we obviously can't encourage cough). #NFTs #CryptoPunks #CryptoMarketNews #CryptoMarketWatch #IRS