Part of the CustodyStress archive of observed Bitcoin custody incidents
CS-00219
Neither the invoices nor the BTC were independently verifiable.
BlockedCase description
A Bitcoin-based invoice financing platform that had advanced BTC against merchant invoices collapsed in November 2015. Merchant invoices pledged as collateral were never documented on-chain. When the platform failed, the administrators claimed the collateral portfolio was insufficient to cover lender balances. Neither the invoices nor the BTC were independently verifiable.
Custody context
| Stress condition | Documentation absent |
| Custody system | Exchange custody |
| Outcome | Blocked |
| Documentation | Unknown |
| Year observed | 2015 |
| Country | Unknown |
Structural dependencies observed
What this illustrates
Nobody had written down how to get back in. That knowledge existed only in the owner's head. 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 documentation absent
This archive documents observed custody survivability failures. It does not attempt to document all Bitcoin losses or security incidents.
Submit a case
← All cases
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.
Translate