There exists a phenomenon in space that explains the red and blue shift observed by astronomers when they look at distant galaxies receding away from us or moving towards us. This phenomenon is more accurately known as the Cosmological Doppler effect .
Imagine a part of the Electro Magnetic spectrum coming to us from a distant galaxy. Since the wavelength and the frequency of this wave change as it moves through space, it can be argued by Plank's hypothesis that the energy i.e. is continuously changing, or more specifically decreasing, due to the expansion of the fabric of space-time.
So, is it true that it can be said the energy, in this case, is lost?
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The answer to this hypothesis, as weird as it sounds, is true! I know, it blew my mind away too!
In reality, the laws of conservation of mass and energy are given by something known as the Noether's theorem that derived the Conservation Laws from symmetry, or more importantly it stated that the laws of conservation of energy are the result of an assumption, that laws of Physics don't change over time.
But, from the general theory of relativity and the recent discovery of gravitational waves, we know that the fabric of space time itself can warp, and expand and swivel, hence changing the laws of Physics. So, when a wave passes through space, it causes disturbances, which are enough to violate Noether's theorem and hence the laws of conservation of Energy!