Documentation absent — exchange custody (2014)

Indeterminate

Case description

Several Bitcoin mutual funds that had raised BTC from investors in 2013 declined to provide NAV statements or audited portfolio reports in mid-2014 when Bitcoin prices fell. Investors who attempted to redeem units had no documented redemption price, no documented NAV basis, and no contractual right to a specific payout.

Custody context

Stress condition	Documentation absent
Custody system	Exchange custody
Outcome	Indeterminate
Documentation	Unknown
Year observed	2014
Country	Unknown

Structural dependencies observed

Undocumented procedure

What this illustrates

Nobody had written down how to get back in. That knowledge existed only in the owner's head. It's not clear whether anyone ever regained access.

Outcome interpretation

Not enough information is available to determine the outcome.

Source

Publicly Reported

Evidence type

Forum post

Evidence link

https://bitcointalk.org/index.php?topic=83794.0

Related cases involving documentation absent

193 cases involve documentation absent 512 cases involve exchange custody View archive statistics →

This archive documents observed custody survivability failures. It does not attempt to document all Bitcoin losses or security incidents. Submit a case

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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.