Fool Me Once: HMRC makes unprecedented seizure of NFTs in £1.4m fraud inquiry

The UK tax authority HM Revenue and Customs (HMRC) has seized three NFTs while it conducts an inquiry into what it suspects is a major incident of VAT fraud involving 250 fake companies. Three people are said to have been arrested on suspicion of attempting to orchestrate a scheme which would have seen the UK tax authority defrauded of £1.4m. This is the first case in which UK law enforcement has seized an NFT.