Italian Authorities Uncover €1 Million in Undeclared Cryptocurrency Gains Through Bitcoin Ordinals Trading

Italian financial investigators have successfully used blockchain analysis to uncover over €1 million in undeclared cryptocurrency gains tied to Bitcoin Ordinals trading.

The investigation, which was carried out by the Economic and Financial Police Unit of Foggia in collaboration with the Special Unit for Privacy Protection and Technological Fraud of Rome, involved tracing transaction flows from a seized Ledger wallet.

Using exchange records, investigators were able to connect pseudonymous activity to verified individuals, revealing a recurring cycle of satoshis being moved to inscription services, digital assets being listed on marketplaces, and BTC proceeds returning to the primary wallet cluster.