UK Revenue Agency seizes and seizes NFT assets for first time in fraud case

On February 14, the UK Revenue Office seized three NFTs in its investigation into VAT fraud involving 250 suspected counterfeit companies. Three people have been arrested for allegedly trying to defraud £1.4 million, HMRC said. According to the agency, this is the first NFT seizure by UK law enforcement. At present, the HMRC has seized approximately £5,000 worth of cryptocurrency assets seized during the investigation and three digital artwork NFTs that have not yet been valued. (RNZ)