CryptoPunks Fraud Guilty Plea: $13M Scandal

Pennsylvania Man Faces Prison for False Tax Returns on CryptoPunks Sales

• Waylon Wilcox, 45, pleaded guilty to filing false tax returns.
• He underreported over $13 million from 97 CryptoPunks sales in 2021 and 2022.
• The unreported income reduced his tax bill by more than $3.2 million.
• Wilcox sold 62 Punks for $7.4 million in 2021 and 35 for nearly $4.9 million in 2022.
• He faces up to six years in prison, supervised release, and fines.

Waylon Wilcox admitted to underreporting over $13 million from CryptoPunks sales, reducing his tax liability by more than $3.2 million. He could face up to six years in prison for these actions.