The Challenge
Matt is a UK higher-rate taxpayer who'd been actively trading crypto since 2019. Over the years he accumulated positions across Binance, Coinbase, Kraken, MetaMask, and several DeFi protocols on Ethereum and Polygon.
His situation was complicated by the usual suspects: cross-chain bridge transfers that looked like disposals, wrapped token conversions (WETH/ETH), liquidity pool entries and exits, a couple of rug-pulled tokens with zero liquidity, and years of CSVs from exchanges that had since changed their export formats.
He'd tried two other crypto tax tools. Both choked on his DeFi activity, leaving hundreds of transactions unmatched or miscategorized. The cost basis was wrong, and he knew it.
“I spent three weekends trying to fix it myself. Every time I thought I was close, another 200 transactions would show up as ‘unknown.’ I just needed someone who actually understood DeFi.
The Solution
Matt signed up for Moonscape's Launch Assist service. Within 24 hours, a dedicated analyst was assigned to his account and had connected all 8 of his exchange and wallet sources via read-only API keys.
Here's what the analyst handled:
- Exchange imports: Connected Binance, Coinbase, Kraken, and 2 smaller exchanges via API. Imported historical CSVs for closed accounts.
- Wallet reconciliation: Linked MetaMask and 2 hardware wallets. Traced every on-chain transaction across Ethereum and Polygon.
- DeFi categorization: Identified and correctly classified LP entries/exits, yield farming rewards, token swaps, and bridge transfers.
- Rug pull handling: Flagged 2 tokens with zero liquidity, applied negligible value claims where appropriate under HMRC guidance.
- Cost basis resolution: Matched every acquisition to a disposal using Section 104 pooling (UK method). Zero unmatched transactions.
“They found bridge transfers that the other tools had flagged as taxable disposals. That alone would have cost me thousands in overpaid tax.
The Results
Within 5 business days, Matt received his complete tax report package:
- HMRC-ready capital gains summary with Section 104 pooling applied correctly
- Full transaction log — every trade, swap, and transfer categorized and matched
- SA108 supplementary pages pre-filled and ready to attach to his Self Assessment
- Cost basis audit trail — complete provenance for every disposal, in case HMRC asks
The correctly categorized bridge transfers and negligible value claims saved Matt a significant amount compared to what the other tools had calculated. More importantly, he filed with confidence — knowing every transaction was accounted for.
“I went from dreading the Self Assessment deadline to having everything filed two weeks early. First time I've felt genuinely confident about my crypto tax return.
Key Takeaway
Complex crypto portfolios — especially those with DeFi activity, multiple chains, and historical data gaps — need more than automated imports. They need human review. Launch Assist pairs Moonscape's tax engine with a dedicated analyst who understands the edge cases, so you get accurate reports without spending your weekends on spreadsheets.