The Challenges of Cryptocurrency Asset Recovery
Andrew W. Balthazor · FIU Law Review · 2019
Cryptocurrencies, like Bitcoin, present challenges to plaintiffs seeking to recover these digital assets.No third-party intermediaries are involved in cryptocurrency transactions, and there is no controlling authority that can revoke or avoid a transaction once completed.The possessor of a cryptocurrency's private key-its password-has total and exclusive control over the account's assets.These digital assets cross jurisdictional boundaries without impediment.The features of cryptocurrencies make it easy for defendants to judgment-proof themselves and make these assets difficult to recover after a court has entered judgment.This comment explains cryptocurrency features relevant to asset recovery, explores pre-and postjudgment procedures as applied to cryptocurrencies, and suggests ways to mitigate the risks of this potentially difficult-to-recover asset.I.