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BTC Katie Price plans to divorce her husband Lee Andrews over rumors of a $50 million cryptocurrency scam.
According to reports, British television personality Katie Price is planning to divorce her husband Lee Andrews. Previously, Andrews had shown a cryptocurrency wallet as evidence of his $50 million wealth, but the actual balance of the wallet was only about $3.
Andrews claimed to Price that he held approximately $50 million in cryptocurrency and promised to allow her to use some of the funds. He then provided a set of mnemonic words (restored phrases). On August 31, a financial expert used the set of mnemonics to access the wallet and found that the balance was only £ 2.22.
The wallet balance briefly surged and then was quickly transferred out
It is alleged that the wallet reached a peak balance of approximately US$14,490 (approximately £ 10,720) one day in March, but all the funds were transferred on the same day.
Since no public wallet address or transaction records were provided during the disclosure process, it was impossible for the outside world to independently verify the balance history or confirm whether the wallet represented Andrews 'broader crypto asset holdings. The data comes from a first report based on a source close to Price, which described wallet checks and access credentials.
Although mnemonics give control over addresses generated from that wallet, holding just one set of mnemonics does not establish the entire size of an individual's assets in other wallets, exchanges, or financial accounts.
Despite this, this huge gap became the last straw that crushed the relationship. Prior to this, the financial and legal issues Andrews faced in Dubai had put tremendous pressure on their relationship.
Price consulted a lawyer after questioning via WhatsApp
According to reports, after accessing the wallet, Price confronted Andrews via WhatsApp and said she believed she had been deceived. She then consulted a London divorce lawyer about the possibility of ending the marriage.
As of September 2, Price had not spoken publicly about the divorce rumors, while ITV TV reported that she was preparing to file a lawsuit rather than just announcing the end of the marriage.
The relationship between the two developed rapidly. Price announced her engagement on January 23, held a wedding ceremony in Dubai on January 25, and officially registered her marriage at the Abu Dhabi Civil and Family Court on February 17.
Andrews has been detained in Dubai multiple times since May over civil disputes and returned to Al Awir prison in July. According to reports, Price had not seen him since June when news of the breakup broke.
Cryptocurrency announcement sparks months of financial questions
Questions about Andrews 'claimed wealth surfaced shortly after their marriage. Price initially defended him publicly and said in March that she had seen evidence supporting her finances.
However, on August 31, Price took off his wedding ring. The next day, with her wallet balance verified, she reportedly decided to end the relationship.
Price was then photographed without wearing a ring and continued to release updates from Maldives while legal discussions continued. As of September 3, Price was reported to have consulted divorce legal counsel and ended the relationship, but there was no public record of divorce completion.
