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_cm34(Newbie)Newbie
13 Sept 2021

I recently invested into crytpo through a platform called chaintify.

They are asking for a guarantee tax deposit of 2% of my current holdings before i can withdraw any crypto.

"we are here to inform you that your USDT asset in Chaintify had been reviewed. The results is there is taxes needed with your current amounts of assets before you take withdrawal to your Australian account.The amount would be 2% from your current capitals in your account.

Once we received the Taxes deposit , we will send you a legal statement with the clarification with the tax and it will be returned with your transaction after we received the guarantee taxes deposit.

More addition, Chaintify considered the sudden issue from Australia government with the new taxes policy thus we decided to take full-withdrawal to every Australian clients for the financially re-arrangement after we received the tax deposit, of course we are also welcome if our guests prefer re-deposit again.Once we received the Taxes deposit , we will send you a legal statement with the clarification with the tax and it will be returned with your transaction after we received the guarantee taxes deposit.Please understand that the purpose of tax is to ensure the identity and it according to the protocol by the Australian Tax Office (ATO), Australia government . Since oversea IP address is detected in your account, Chaintify consider oversea IP address important and we have strict review system to ensure client's asset and transaction.Please remember Guarantee Taxes Deposit action is only take once and after you deposit the taxes needed your account will be able to deposit and withdrawal any amounts without any service charged."

Is any of this legit? or am i just getting scammed?

1,115 views
4 replies
1,115 views
4 replies

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JodieR_ATO(Community Support)Community Support
14 Sept 2021

Hi @cm34,

If you're transacting with crypto', as with any investment, we would advise buyer beware. You need to consider the digital platform you're using or check for reviews, other users feedback etc. We rely on the owner of the crypto' to lodge their tax return and declare any income, capital gains or losses arising from their ownership of the crypto', not the digital platform your associated to.

We also have information on our website about lost or stolen crypto', advising what can be done if this occurs.

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Most helpful reply

JodieR_ATO(Community Support)Community Support
14 Sept 2021

Hi @cm34,

If you're transacting with crypto', as with any investment, we would advise buyer beware. You need to consider the digital platform you're using or check for reviews, other users feedback etc. We rely on the owner of the crypto' to lodge their tax return and declare any income, capital gains or losses arising from their ownership of the crypto', not the digital platform your associated to.

We also have information on our website about lost or stolen crypto', advising what can be done if this occurs.

22 Sept 2021

Hi @cm34,Unfortunately, I am experiencing the same situation. I've actually made the transfer and have not heard back from them.

I have been compiling evidences to be reported to the cybercrime police division. As much as I do not want to admit it, it appears to be a scam. Please reach out to discuss further.

ATO Certified Response
BlakeATO(Community Support)Community Support
ATO Certified Response24 Sept 2021

Hi @unknown000,

If you have been a victim of a scam and have lost your crypto due to this, you'll report it as a capital loss on your income tax return. Owners of crypto need to verify their exchange platforms and need to take care in where they invest, as we cannot guarantee the safety of any transaction - we just handle the tax implications of them.

You've done the right thing by reporting it to the police. If you haven't yet, I would recommend reporting it to the Australian Cyber Security Centre, too.

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