Part of the CustodyStress archive of observed Bitcoin custody incidents
CS-00423
Platform bankruptcy — exchange custody (2017)
IndeterminateCase description
YouBit's December 2017 bankruptcy filing never disclosed the precise amount stolen in either the April or December hacks. The exchange's total asset disclosures were inconsistent. Customers filing claims in the bankruptcy had no reliable basis for verifying whether their stated balances matched the exchange's actual holdings. The documentation-absent condition persisted through the entire bankruptcy process.
Custody context
| Stress condition | Documentation absent |
| Custody system | Exchange custody |
| Outcome | Indeterminate |
| Documentation | Unknown |
| Year observed | 2017 |
| Country | South Korea |
Structural dependencies observed
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
News article
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.
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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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