How to account for losses due to scams?

Tax Questions
#1

Hi.

I am looking for advice on how to handle losses where an exchange turned out to be a scam, and all deposits were lost.

Unfortunately, due to extreme naivety at the time, I was scammed by 3 different exchanges back in late 2017 (i.e. BitConnect, USI-Tech, TradeCoins.com). These exchanges have disappeared with the deposits, so will never be recovered.

How do I represent these losses within Koinly?

Many thanks.

#2

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