Cryptopia and Bitconnect

I transferred alot of my crypto to these two platforms and unfortunately… was involved in hacks and scams.

How do i report these losses if i no longer have access to the addresses?

It’s showing I made a gain of $6k when really i lost $6k… Please help! :frowning:

Hi, you can tag all the outgoing transactions to those exchanges as “Lost” so Koinly doesnt realize gains on them. After that you can download your lost coins report and use it to claim the full loss - Koinly doesnt do this for you as its highly dependent on your particular circumstances. Best to check with an accountant first.

Ok Thank you :slight_smile:

So if I tag these as lost It may still show a gain was made in the FY but you can claim the loss against that gain after downloading the report?

I’ve changed a few of these transactions to trades where the value of X coin was traded for 0.0000001 BTC so it shows that the funds are lost… is this also an option?

If you tag a transaction as lost, Koinly will not realize any gains on it and you will see its value on your Gifts, Donations & Lost Assets report. You can use this to claim the value as a loss - if your tax agency allows.

You can trade it for 0.0000001 if you prefer to have the loss appear in your capital gains report instead. Note that many countries dont allow claiming losses in this way so would recommend you check with a tax accountant.

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