Cryptocurrency

Solana-hacked crypto could be claimed as a tax loss: Experts


Solana-hacked crypto could be claimed as a tax loss: Experts

For unlucky crypto investors looking to turn lemons into lemonade — it turns out that digital assets lost during an exploit or hack can potentially be claimed as a tax loss, provided you live in the right country, experts told Cointelegraph.

Following the news that more than 8,000 Solana wallets had been compromised and that an estimated $8 million dollars in crypto had been stolen due to a security breach in Web3 wallet provider Slope’s network, this may be some much-needed consolation.

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