How to sell Defunct WLUNA/LUNAC - as a loss

Hi folks,

How do we sell WLUNA or Luna classic that we are still holding in Coinbase ( though it is worthless now) ? The value is literally zero after mega LUNA/TERRA meltdown. We want sell it we can claim some loss, but Coinbase and other exchanges are not letting us sell. How do we overcome this and claim the loss?


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Have it professionally valued and write the loss off on your taxes, same as any other asset that becomes worthless.

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Actually, it’s not zero. As of the moment I copied it, the price was $0.000238.

There must be an exchange somewhere that is allowing trading. Coinbase itself shows a chart of nearly minute by minute trading. (This chart appears to be in 5 minute increments.)

You’ll need to find out where that trading is happening and potentially move your virtual currency there to sell it and get the tax loss.


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That doesn’t work for any security. You either have to sell it, or be able to point to some event (typically the conclusion of a bankruptcy proceeding) that means the item is forever worthless.



I would agree with Peter that while it’s ‘nearly worthless’ it is worth something more than zero. Because of that, you need to dispose of it before you can claim a loss, or you will need to wait until it’s declared worthless by the company.

Brokerages will sometimes buy nearly worthless stocks from you when there’s not a market for a minimal amount, like $1, so that you can document a loss. I’m not sure if Coinbase and other exchanges are willing to do so, but you should ask.