A Husband Hid $500,000 in Bitcoin During a Divorce — And Got Busted By a Crypto Hunter

July 12, 2023

A Husband Hid $500,000 in Bitcoin During a Divorce — And Got Busted By a Crypto Hunter

July 12, 2023

Uncovering hidden digital assets: Navigating the challenges of cryptocurrency in divorce proceedings.

Divorce attorneys and forensic investigators are facing challenges in dealing with cryptocurrency assets during divorce proceedings. The rise of financial infidelity involving cryptocurrencies has created a need for specialized investigators to track down hidden digital assets. Cryptocurrencies like Bitcoin and privacy tokens such as Monero make it difficult to trace transactions and identify assets. Divorcing spouses may hide assets by using tech-savvy methods and transferring funds to foreign exchanges beyond legal jurisdiction. Investigators rely on blockchain analysis, computer forensics, and subpoenas to centralized exchanges to uncover hidden crypto holdings. The complexity of crypto transactions, including chain hopping and token wrapping, adds to the difficulty of tracing assets across different blockchains. Valuing crypto assets in divorce court is also challenging due to the market's volatility and the need to account for assets staked for earning rewards. For more information click the link!

https://www.cnbc.com/2023/05/20/bitcoin-in-divorce-how-spouses-hide-assets-crypto-hunters-find-them.html

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