How are crypto holdings traced and substantiated in a bankruptcy?
In short: Paucitas traces crypto holdings in a bankruptcy and substantiates the findings in a report for the insolvency practitioner. We establish which holdings existed, where they went and on which data that conclusion rests.
Prefer to speak to someone straight away? Call 24/7+31 20 244 5774
What Paucitas does
We start from the known data in the accounts and from the bank accounts: every payment to or from an exchange is a lead. One anonymised case: the accounts showed only two small payments to an exchange, and following those two payments brought a holding into view that had been moved to a self held wallet shortly before the filing.
In a UK insolvency the practitioner needs findings that hold up against a creditor and, if necessary, in a civil procedure. The report is therefore written with the source for every step.
We start from the known data in the accounts and from the bank accounts: every payment to or from an exchange is a lead. One anonymised case: the accounts showed only two small payments to an exchange, and following those two payments brought a holding into view that had been moved to a self held wallet shortly before the filing.
What you supply
The insolvency practitioner supplies Paucitas with the accounts, the bank statements and whatever is known about platforms and addresses. Two bank lines are often enough to begin; a complete picture is not a condition for starting.
Where a director also held crypto privately, add what is known about that as well. Payments between a private wallet and the company are often the clearest lead, and they are frequently the only one recorded in the accounts.
Where a director also held crypto privately, add what is known about that as well. Payments between a private wallet and the company are often the clearest lead, and they are frequently the only one recorded in the accounts.
What you receive
You receive a report from Paucitas with the addresses found, the timeline of the movements, the value on the relevant dates and an account of the method. Where the chain runs dead, for example at a platform that provides no data, that is stated explicitly in the report.
The report draws no legal conclusion about a transaction. It records what happened and when, which is what allows the practitioner to decide whether a step is worth taking.
For readers in the UK the frame matters. An insolvency practitioner or trustee in bankruptcy needs findings that hold up against a creditor and, if necessary, in a civil procedure, so every step in the report carries its source. Where the chain runs dead, for example at a platform that provides no data, that is stated explicitly rather than left open.
The report draws no legal conclusion about a transaction. It records what happened and when, with the value on the relevant dates, which is what allows the practitioner to decide whether a step is worth taking.
How to get started
The insolvency practitioner contacts Paucitas with a short description of the file and the question. We will say what is realistic with the material available and what it will cost. Use the contact page for a first message.
Two bank lines showing a payment to an exchange are often enough for a first assessment. The practitioner can write with a short description of the file and the question, and we will say what is realistic and what it costs.
What the insolvency practitioner or the court does with the report, they decide themselves.
Would you like to know what this means for your situation? Ring us on +31 20 244 5774, day or night, or fill in our contact form and you will hear from us within 1 to 3 hours. We answer emails within 24 hours, usually the same day. The intake is free and without obligation.
Do you have a question about your own situation?
Feel free to get in touch with Paucitas. Paucitas can be reached by phone 24/7, including evenings and weekends. Through the contact form we usually reply within 1 to 3 hours, and we answer e-mail within 24 hours.
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Frequently asked questions
About your case
Can crypto holdings in a bankruptcy be found?
Paucitas: often yes. Payments to an exchange in the bank statements are the usual entry point, and from there the chain can be read on the blockchain.
What is enough to begin?
Paucitas sees that two bank lines showing a payment to an exchange are often enough for a first assessment.
Is the report usable in proceedings?
Paucitas: it is written for that: every step carries its source, and what could not be established is stated as such.
From Amsterdam, for the whole of the UK
Everything can be done fully online. Prefer to meet in person? You are very welcome at our office in Amsterdam, by appointment.
Paucitas is an independent expert firm based in the Netherlands that, for clients across the UK, investigates investment fraud and crypto fraud, establishes the origin and legitimacy of crypto assets and prepares expert reports for legal proceedings and compliance.
Your own situation
If you are reading this, you probably have a question about your own situation. That is exactly what Paucitas does.
The first step is contact by phone. You can book that call by phone or through the contact form, so you do not have to wait. In the call we look together at what can factually be established in your case and what Paucitas can examine for you.