Can you claim worthless crypto as loss and get recoup some losses?

As the title states: I was one of the unlucky and ignorant purchasers of a shitoin called Elongate. They are now migrating to another version. Can I just sell my coins and claim as a capital loss?

I have no idea where, but I remember reading somewhere you can claim losses from crypto and get back a small portion up to a certain amount (few thousand)? I only bought I want to say around $1,000 worth or less, and have no hope for this coin.

Does anyone know what I'm talking about? Any advice or knowledge would be greatly appreciated. I'm unfortunately in a financial position right now where this amount would help me significantly.