Part of the CustodyStress archive of observed Bitcoin custody incidents
CS-01024
Customers had deposited Bitcoin and other assets under a materially false understanding
BlockedCase description
Voyager had marketed its services with prominent references to FDIC insurance, leading many customers to believe their crypto deposits were federally insured. The FDIC subsequently clarified that only Voyager's USD cash accounts qualified for coverage, not the crypto holdings. Customers had deposited Bitcoin and other assets under a materially false understanding of the protections in place, and discovered this only when withdrawals were suspended.
Custody context
| Stress condition | Documentation absent |
| Custody system | Exchange custody |
| Outcome | Blocked |
| Documentation | Unknown |
| Year observed | 2022 |
| Country | United States |
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
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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