Is your ex going to hide cryptocurrency?
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Is your ex going to hide cryptocurrency?

You know that your divorce is going to be contentious because you and your spouse are not on the same page. You know that they want to keep you from getting as many of the assets that you owned in the marriage as they possibly can, whether it’s fair or not.

One way that people have begun doing this is by using cryptocurrency. This is an unregulated market of online tokens that you can purchase with actual cash. Cryptocurrency has a value that rises and falls within its own market. Many people see this as investing, but they also use it as a tool to hide their funds in accounts that they assume their spouse doesn’t know about or will never be able to find.

Can you trace these accounts?

If you think your spouse is going to hide assets this way, it can be very difficult to find them. They probably set these accounts up under their own name and without giving you any of the details. The accounts may actually be held overseas, so there’s not a physical building that you can go to.

What you can do is look back over your own bank statements. A cryptocurrency wallet may hold the coins that someone has purchased, but it has to originally be funded with actual currency. If you find any large withdrawals, especially if they’re going to a corporation you’ve never heard of or being sent overseas, that could mean that your spouse transferred that money into a cryptocurrency account. This will give you some idea of how much money they’re trying to hide, though the total value can fluctuate, as noted above.

A divorce like this can be very complicated, and there’s a lot of money on the line, so make sure you know about your legal options.