Is your spouse hiding cryptocurrency?

On Behalf of | Jul 26, 2022 | Property Division |

More and more people have started investing in cryptocurrencies. Digital assets tied to blockchain technology, and tracking currencies such as Bitcoin often carries challenges. As such, some divorcing spouses seeking to hide assets from their soon-to-be exes use these types of investments.

Knowing the red flags to watch for and where to look for potential hidden cryptocurrency holdings, however, may help you ensure you receive a fair property division settlement.

Spotting the signs

According to CNBC.com, some signs may tip you off that your spouse has hidden assets from you using cryptocurrency. For instance, sometimes a person will change his or her lifestyle, spending more extravagantly or making large purchases. Missing money from shared bank accounts also signals the existence of hidden assets in some cases.

Looking for hidden assets

Should you suspect your soon-to-be ex-spouse holds undisclosed cryptocurrency, you may pursue options to uncover them. Information sources, such as past loan applications or tax returns, often contain details regarding cryptocurrency holdings. You or your legal representative on your behalf may also reach out to exchange companies for records. In some such cases, the company may require you to obtain a subpoena before releasing any information about a spouse’s account.

If your spouse hides cryptocurrency accounts from you and fails to disclose them during your divorce, will likely have several effects. In addition to potentially impacting your settlement agreement, it may also lead to legal issues for your former partner. Therefore, you may do some research as you prepare for and go through your divorce to help ensure you receive what you deserve.