Italian Tax Probe Uncovers €1 Million Scheme Using Bitcoin Ordinals and BRC-20 Tokens

Italy's Guardia di Finanza has made a significant discovery in the world of cryptocurrency, tracing over €1 million in alleged undeclared gains tied to Bitcoin Ordinals activity. The case began as a probe into unreported income and eventually led investigators to uncover a multi-year tax fraud scheme fueled by Ordinals and BRC-20 tokens.

According to Chainalysis, the suspect used the technical novelty of crypto assets to create a complex structure, minting, listing, selling, and moving funds in a repeated cycle. The company emphasized that 'the technical novelty of crypto does not equal anonymity,' as public blockchain records exposed transaction flows, ultimately leading investigators to connect wallet activity to a real person.