A Way To Avoid Property Division After Divorcing

In most countries in the world after divorce, spouses split up their property in half and go their separate ways. However, if you are divorcing, it usually means that you are no longer in love and that you are unwilling to share your hard-earned money and property with someone who does not love you. That is why spouses often hide their property in one way or another, in order to avoid division into equal parts, and in the digital age, cryptocurrencies have become one of the ways to hide your money.

May 24, 2021 - 19:02
A Way To Avoid Property Division After Divorcing

Secret crypto wallets

Divorce lawyers are progressively in a situation where they have to prove that the opposite party has a secret crypto wallet in which there is a large amount of money, all in order to avoid a fair division of property. In one case, the husband, who gained over a million dollars in his investment business, claimed that he had only $ 200,000 left, while the rest of the money was cleverly stored in a crypto wallet, which was hidden from the woman and the public.

What does not go hand in hand with spouses who use these tactics is that investigators and law enforcement are getting better at the process of tracking money and locating wallets. In addition, fraud detection companies are increasingly being hired to locate digital wallets with hidden assets.

Buying cryptocurrencies enables a very simple transformation of funds and does not require you to leave the house. All you have to do is have a computer or a smartphone and you will be able to buy cryptocurrencies and store them in an anonymous crypto wallet, which you can even carry with you in the form of a flash.

A good plan makes it difficult to follow up.

According to the information provided by the representatives of the companies that investigate fraud and trace crypto wallets, such things are not planned long enough or are done in affection, so the spouses do not follow all the steps necessary for the digital wallet to remain anonymous. Instead, they use the services of large exchange offices that require identity checks before opening an account, which greatly facilitates the job of connecting people and wallets.

Even if you try to hide traces of where your cryptocurrencies are, there is always the fear that someone may take over your computer and reveal traces of money transfers to Bitcoin, Ether, Tether, DogeCoin, or some different cryptocurrency. For those who went a step further and really well thought out the whole process and hid the digital traces, it should be borne in mind that offline wallets must also leave some trace.

Namely, in addition to digital wallets that you access via phone or computer, you can buy a hardware-encrypted wallet in the form of a flash that you physically keep with you and on which the data is protected by serious encryption. You can also physically write down the address of the wallet on paper, and thus keep it without digital traces, risking that if something happens to the paper, you will run out of funds in the account.

Avoidance at all costs

Another way to avoid revealing your wallet is to open an account at exchange offices that are not located in your home country and that your court cannot call to provide information. Binance is a great example of a large exchange office that completely ignores court orders from courts around the world.

With the advancement of technology, the techniques of fraud and hiding money are advancing, but in parallel, digital forensics is advancing, and lawyers and judges are increasingly familiar with digital money because it is becoming part of our everyday life. If you are planning or suspecting a divorce, and you know that your spouse has a large amount of money in the account, pay attention to cryptocurrencies because it can happen that the money that was there only one day disappears and is digitized in the form of some popular cryptocurrencies and you did not even notice it.

By: Deya - Gossip Whispers