Part of the CustodyStress archive of observed Bitcoin custody incidents
CS-00580
Documentation absent — exchange custody (2018)
IndeterminateCase description
An ICO project that had raised 2,000 BTC in a 2017 token sale collapsed in July 2018 without delivering its product. The founders claimed development costs had consumed all proceeds but could not produce invoices, contracts, or payroll records. Investors had no contractual right to return of proceeds and no documented governance rights to compel an accounting.
Custody context
| Stress condition | Documentation absent |
| Custody system | Exchange custody |
| Outcome | Indeterminate |
| Documentation | Unknown |
| Year observed | 2018 |
| 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. 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
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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