The cryptocurrency sector continues to struggle, with a prolonged downturn exacerbated by security breaches, closures, and insolvencies. Amidst the fallout from the year’s biggest decentralised finance (DeFi) hack at Kelp DAO, another platform has announced its imminent closure.
Netrunner, a Solana (SOL) based tax tool designed to convert blockchain activity into tax reports, is ceasing operations. The AI-powered tool automatically categorised swaps, staking, perpetuals, non-fungible tokens (NFTs), liquidity pools, airdrops, stablecoin yield farming, and other activities across more than 46 Solana protocols, including Raydium and Magic Eden.
Netrunner generated IRS Form 8949 for capital gains and losses, Schedule D for tax return summaries, and Schedule 1 for crypto income, such as staking rewards and airdrops. It supported crypto taxpayers in the United States, Canada, Ireland, the United Kingdom, Germany, Italy, Spain, India, Japan, Australia, New Zealand, Nigeria, and South Africa.
However, on April 20th, Netrunner declared it had failed to achieve the necessary scale to maintain the platform under current market conditions. Consequently, it will shut down on April 30th.
Users are urged to export their data and download tax reports before the shutdown date. Support is available via Discord for those experiencing issues.
Netrunner users must take the following steps before the platform closes on April 30th:
| Step | Description |
|---|---|
| 1 | Export all relevant data from the platform. |
| 2 | Download all generated tax reports. |
| 3 | Seek support via Discord if encountering any issues. |
