Thank you all for your responses.
What about if I am only returned a portion of the crypto assets, with some assets being converted (i.e. they pay me back from crypto A in the form of crypto B instead of in kind), and the rest is taken/lost/used per whatever bankruptcy ruling allows them to do, etc.
Do I use the rules above to write off the loss of that crypto in total? I have no way to track which blocks were bought at what price at this point once returned me, so how do I account for this as my understanding is that every conversion is supposed to be recorded?
For example, if I bought blocks of ETH for $4800, $3300, and $2100 allotting up to 3 ETH in total... and I am returned 1.25 ETH, do I average the cost and loss? Or do I take highest to lowest to write off?
Thank you
