Part of the CustodyStress archive of observed Bitcoin custody incidents
CS-00039
Bitfunder's July 2013 hack went unannounced to customers.
BlockedCase description
Bitfunder's July 2013 hack went unannounced to customers. Montroll continued operating the platform as if fully solvent, accepting new deposits, processing trades, and publishing account balances that did not reflect the 6,000+ BTC deficit. The absence of any disclosure or documented reserve verification meant customers had no basis to suspect insolvency through Q3 2013.
Custody context
| Stress condition | Documentation absent |
| Custody system | Exchange custody |
| Outcome | Blocked |
| Documentation | Unknown |
| Year observed | 2013 |
| Country | United States |
Structural dependencies observed
What this illustrates
There was no documentation of how access worked. Without it, there was no path back in. Access was not recoverable.
Outcome interpretation
Access was not possible under the reported conditions.
Source
Publicly Reported
Evidence type
News article
Related cases involving documentation absent
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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