Israel Tax Authority is investigating two NFT creators in Jerusalem who did not report millions of U.S. dollars in revenue received from the sale of their digital works. The tokens they offered were based on a 3D scan of the stones of the Western Wall.

The suspects, Avraham Cohen and Antony Polak, own the Holyrocknft.com website through which they sold their NFTs, the Jerusalem Post reported on Sunday. The platform claims to “combine the business world and technological progress with Jewish faith and spirit.”

Investigators were able to establish that since 2021 the two Israelis sold 1,700 digital works for 620 ETH. At rates at the time of transactions, the total was worth around 8 million shekels (or close to $2.2 million). Tax officials view these revenues as business earnings, but the pair did not report them as such.

(By Lubomir Tassev)

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