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Unsellable NFTs website
Primary Source ↗Incident Details
If you bought an NFT for $1,000 and it’s now worthless, you still have to find someone willing to buy it before you can claim it as a loss on your taxes. A project called “Unsellable” has emerged to fill that need—buying worthless NFTs for $0.01 (for a small fee) so that people can claim the losses.“This tool really helped me unload those embarrassing early NFT Hype investments. Should shave about $1000 off my tax bill”, a supposed user writes in a testimonial blurb on the site (although the testimonials appear to be faked).Perhaps someone has finally found a viable crypto business model after all.
Technical Details
- Vendor / Product
- Tax loss harvesting tool launched
Timeline
- 2022-12-29 Breach occurred
- 2022-12-29 Publicly disclosed