The British tax authorities have declared on Monday they had made their first capture of non-fungible tokens (NFT) in a repression on suspected criminal activity to hide money.
Her Majesty’s Revenue & Customs seized three NFTs after investigating attempted fraud public coffers of £1.4 million ($1.9 million).
Around £5,000 worth of other crypto assets were also grasped.
Investigation also brought to arrest of Three people for claimed value added tax refund fraud involving 250 bogus companies.
Nick Sharp, Deputy director economic crime at HMRC, said the seizures of the NFTs, which had not yet been valued, were used as warning at anyone who thought they could use crypto assets to hide money.
“We are constantly adapting to new technology at ensure we keep pace with how criminals and escapees seek to conceal their assets,” he said in A declaration.
NFTs are a form of crypto asset who uses the blockchain to record ownership status of digital files such as images, videos and even items in online games.