The divorce proceedings of a couple from New York took an unexpected turn when a forensic accountant assisted in the discovery of the husband’s secret Bitcoin holdings. The wife had suspicions that her husband, who earned an annual income of $3 million, was withholding assets that should have been divided between them following their divorce. Referred to as Sarita for anonymity, the wife disclosed to CNBC that her husband’s declared assets did not align with his earnings.
To investigate further, the wife enlisted the help of a forensic accountant, who eventually uncovered that her husband had not disclosed ownership of 12 BTC, equivalent to approximately $500,000, stored in an undisclosed cryptocurrency wallet. Sarita, unaware of her husband’s Bitcoin investment, expressed her shock, stating, “It was never even a thought in my mind because it’s not like we were discussing it or making investments together.”
Consequently, the husband will be required to relinquish a portion of his Bitcoin holdings as part of the divorce settlement. Tracking cryptocurrency investments is comparatively easier than traditional fiat assets, thanks to the transparency of blockchain technology, which preserves all transaction records and prevents tampering or deletion of entries.
In a contrasting trend, the metaverse, a recent innovation in the crypto space, has become a popular virtual venue for couples worldwide to exchange vows. Since 2021, numerous couples have opted for metaverse-based weddings, allowing loved ones to partake in the joyous occasion remotely.
