Italy tracks over €1 million in undeclared Bitcoin Ordinals trading gains, Chainalysis says

Italian financial investigators traced more than €1 million ($1.16 million) in allegedly undeclared crypto gains tied to Bitcoin Ordinals trading, after examining activity connected to a seized Ledger hardware wallet. The probe used wallet-clustering techniques and exchange KYC records to link pseudonymous on-chain flows to identified individuals, and to reconstruct a repeat trading pattern that cycled BTC proceeds back into further Ordinals activity.