Part of the CustodyStress archive of observed Bitcoin custody incidents
CS-00851
The SIM swap bypassed 2FA on the trader's exchange account, enabling a $45,000
BlockedCase description
A Bitcoin trader was the victim of a SIM-swap attack in February 2020. The attacker had obtained the trader's phone number from a compromised exchange database and convinced the carrier to transfer the number. The SIM swap bypassed 2FA on the trader's exchange account, enabling a $45,000 withdrawal before the trader could act.
Custody context
| Stress condition | Physical coercion |
| Custody system | Mobile or software wallet |
| Outcome | Blocked |
| Documentation | Unknown |
| Year observed | 2020 |
| Country | Unknown |
Structural dependencies observed
What this illustrates
There was only one way in. When that path was gone, so was access. Access was not recoverable.
Outcome interpretation
Access was not possible under the reported conditions.
Source
Publicly Reported
Evidence type
Forum post
Evidence link
Related cases involving physical coercion
105 cases involve physical coercion
572 cases involve mobile or software wallet
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This archive documents observed custody survivability failures. It does not attempt to document all Bitcoin losses or security incidents.
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Framework references
Where Bitcoin Custody Intersects Legal and Fiduciary Authority
Where custody creates gaps in estate planning, fiduciary duty, and professional responsibility.
Professional Scope Boundary Matrix
What each professional or product covers, what they do not, and where gaps form between them.
The Independent Assessment Layer in Bitcoin Custody
How independent diagnostic layers emerge when multiple parties depend on shared infrastructure.
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