Hi,
I invested Ethereum crypto in a trading company. After making some profits, I decided to withdraw my funds. The trading company didn't allow by asking for more 30% of the funds to be invested. I declined and let the amount be there. After certain time, the trading company's website gone down and I am unable to get access to my amount. In this case, can I submit an investment loss in tax return?
Thanks!
Hello @saurav2002
Yes, most likely.
Data matching is a wonderful thing, but it doesn't match up when people are scammed.
First point of call would be to report your Crypto scam.
It may not fall into any of the categories on the page we linked, but it's always good to know about and learn of new scams happening to innocent people like yourself.
It'll also make us aware that this happened to you and be a record of why you are claiming it in your Tax return.
Hey @saurav2002,
You may be able to claim an investment loss on your tax return.
Check out the info we have on Crypto and your taxes. There is a section on there, about what to do after a crypto scam or bankruptcy.
Hi JayneATO,
ATO site lists the following info:
I’m a victim of a crypto scam – can I claim a loss?
Sadly, many people have fallen victim to scams or have had their crypto assets stolen.
If you can’t recover your assets, you can claim a capital loss.
To do this, you’ll need to provide some evidence, including:
details of when you lost access to your crypto assets, wallet or platform, and proof the crypto assets were kept or maintained by you (for example, transactions linked in your name).
Will ATO contact me asking for this info ?
Thanks
Hello @saurav2002
Yes, most likely.
Data matching is a wonderful thing, but it doesn't match up when people are scammed.
First point of call would be to report your Crypto scam.
It may not fall into any of the categories on the page we linked, but it's always good to know about and learn of new scams happening to innocent people like yourself.
It'll also make us aware that this happened to you and be a record of why you are claiming it in your Tax return.
I need an advice. I am currently processing a crypto recovery,with an agency called, [removed by moderator] and we did some transaction validation. Out of 200k USD which was lost they where able to recover 90% of my lost, and I have only received only 60k USD and its been four days already since we started. I am a bit worried, i will like to know if they took the remaining of my money or if it is actually impossible to recover entirely everything i lost.
Hey @Dennisgideon,
We can only answer tax related questions, you may need to expert advice for this one.
15 Apr 2026 · 8 min read time
4 Dec 2023 · 9 min read time
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