Getting divorced means that the parties must split their marital assets and divide their debts accordingly. But you can only split what you can identify and valuate.
To that end, some Indianians facing divorce may discover that their spouse is less than transparent regarding their total assets. In fact, they may be trying to stash assets through cryptocurrency purchases that are hard to trace.
Digital assets can still be traced
While the spouses of Bitcoin owners might be clueless about how to trace purchases back to their point of origin, it is possible to sort through each blockchain purchase to its owner’s digital wallet.
Granted, the tech industry was a bit behind the entrepreneurs in relation to digital currency, but they have since caught up. Since tens of millions of people in the United States now own and trade cryptocurrency, industry insiders now know how to follow the complex blockchain trades to their sourced ownership.
Rely on technology to trace
To trace cryptocurrency purchases, forensic researchers look for login credentials to digital currency sites. They also can check computers for information stored electronically on the hard drive or in the cloud.
Tax returns often yield a wealth of information about digital holdings. Ditto for any loan applications a spouse may have completed.
You must know it exists to find it
Prior to filing for divorce, consider whether your spouse showed any interest in buying Bitcoin or any other of the plethora of digital currencies. Non-fungible token (NFT) ownership is another avenue to explore if you think your spouse may have invested marital funds to buy them.
By working closely with your legal counsel, you stand a better chance of revealing hidden assets in divorce.