If you don’t know, cryptocurrency is a digital currency based on cryptographic principles that typically operates on a decentralized computer network. Owners can use it like money to buy goods and services or as an investment vehicle since crypto can increase in value over time.
Unfortunately, it can pose some marital property challenges during divorce, as some spouses may try to conceal these assets from their partners. Cryptocurrency remains difficult to track and access due to its decentralized nature.
If you suspect your spouse has concealed crypto from your divorce, here are some tips for locating it.
Seek their cooperation
Ask your spouse about their crypto holdings and request full disclosure. They may cooperate once they realize you are aware of the assets. If they resist or refuse your request, you will know it is time to take other steps to find the cryptocurrency.
Study financial documents
Scrupulously examine all financial documents (tax returns, bank statements, etc.) for signs of cryptocurrency transactions. Look for unusual wire transfers, unexplained deposits or withdrawals or references to crypto exchanges and mining activities.
Hire a trained investigator
Consider engaging a forensics expert experienced in cryptocurrency investigations. They can analyze electronic devices and data to trace transactions and uncover concealed wallets. Once you locate the crypto, you can get a subpoena to obtain account details and transactional records.
Seek legal support
Both parties to divorce must typically disclose all information about their financial assets and holdings. Mutual disclosure helps to ensure a fair settlement under Texas marital property laws.
It can complicate and sometimes prolong a divorce if one spouse does not follow the law. Having a representative throughout the proceedings may improve your ability to meet the challenges you may encounter in your divorce.