Part of the CustodyStress archive of observed Bitcoin custody incidents
Hardware wallet (single key)
Cases in this category involve single-key hardware wallets. The device holds the private key offline. Recovery depends entirely on whether an independent seed phrase backup exists.
Hardware wallets appear in a large share of device-loss cases. The device itself is replaceable — the seed phrase restores access to any compatible wallet. Cases that resulted in blocked access share a common factor: no seed phrase backup existed, or the backup was stored with the device and lost alongside it.
274 observed cases
Blocked
100 (36%)
Constrained
45 (16%)
Survives
86 (31%)
Indeterminate
43 (16%)
Owner death — hardware wallet (2025)
Hardware wallet (single key)
A 2025 analysis cited in multiple estate planning publications estimated that between $140 billion and $200 billion in Bitcoin—representing 17–23% of circulatin
Destroyed in flood — Trezor (2025)
Hardware wallet (single key)
A 2025 flood in Slovenia destroyed the home of a Bitcoin holder along with their Trezor Model One and the paper seed phrase backup stored in the same location.
Estate access failure — hardware wallet (2025)
Hardware wallet (single key)
A 2025 Australian estate case involved a holder who had migrated between several wallet applications over the years—from a desktop wallet in 2014, to a mobile w
Hidden wallet discovered — Trezor Safe 3 (2025)
Hardware wallet (single key)
A 2025 device loss case involved a Trezor Safe 3 hardware wallet that was stolen from a checked bag during international travel. The holder had their 12-word se
Physical coercion — hardware wallet (2025)
Hardware wallet (single key)
French Interior Minister Bruno Retailleau met with cryptocurrency industry leaders in May 2025 following the wave of kidnappings targeting crypto executives and
Seed unavailable — hardware wallet (2025)
Hardware wallet (single key)
A 2025 case involved a hardware wallet held by an elderly Bitcoin holder whose home had been burgled. The thieves had taken a locked box that contained the hold
Legal authority constraint — hardware wallet (2025)
Hardware wallet (single key)
The January 2025 inauguration of President Trump ushered in a significant policy shift on cryptocurrency regulation. Acting SEC Chair Mark Uyeda paused ongoing
Hidden wallet discovered — hardware wallet (2025)
Hardware wallet (single key)
Ukrainian Bitcoin holders who had been displaced by the ongoing Russian invasion continued to face access challenges in 2025. While self-custody wallets were ac
Documentation absent — hardware wallet (2025)
Hardware wallet (single key)
A 2025 case involved a holder who had purchased Bitcoin on multiple occasions across seven exchanges over a decade, consolidating periodically. Some early-gener
Physical coercion — hardware wallet (2025)
Hardware wallet (single key)
In the aftermath of the January 2025 Ledger co-founder kidnapping, French authorities arrested 10 people aged 20–40, most of whom had prior criminal records. Th
The 2024 attacks ranged across multiple continents and included home invasions
Hardware wallet (single key)
Jameson Lopp's database of known physical attacks on cryptocurrency holders documented 24 incidents in 2024—a marked increase from 18 in 2023 and the second-hig
When the holder died, the estate found three cryptosteel plates and four Trezor devices
Hardware wallet (single key)
A 2024 case described by a Bitcoin inheritance specialist involved a holder who had documented their seed phrase using a standard recommendation—storing it on a
Sheffield Crown Court sentenced a trio for the robbery on 18 November 2024.
Hardware wallet (single key)
A 2024 case that surfaced in November 2024 after perpetrators were sentenced at Sheffield Crown Court involved attackers who had used a leaked database linking
The PIN-protected device could not be used by the thief without the PIN.
Hardware wallet (single key)
A Bitcoin holder reported in 2024 that their Ledger Nano S had been stolen in a burglary along with their laptop. The PIN-protected device could not be used by
After the holder failed to respond to multiple re-verification requests over a 12-month
Hardware wallet (single key)
A 2024 Unchained Capital collaborative custody case involved a 2-of-3 multisig arrangement where one of the three keys was held by Unchained as a backup key. Th
The original holder died in 2024.
Hardware wallet (single key)
A recurring pattern documented by recovery firms in 2024 involved early Bitcoin holders who had stored a seed phrase by splitting it—giving some words to family
The wallet showed a balance of 4.7 BTC.
Hardware wallet (single key)
A 2024 estate case in New York involved a deceased holder whose family found a laminated card in a safety deposit box with a 24-word seed phrase. The seed phras
The remaining two key holders could technically reach quorum to spend Bitcoin.
Hardware wallet (single key)
A 2024 case involved a 2-of-3 multisignature wallet where one of the three key holders had died unexpectedly. The remaining two key holders could technically re
He fled to Hong Kong on 1 May 2024 but was arrested on return to Canada on 25 July 2024
Hardware wallet (single key)
The April 2024 Port Moody home invasion was extensively pre-planned: the gang had placed surveillance cameras outside the family's home in the days beforehand.
The gang ultimately drained approximately $2 million from the family's accounts
Hardware wallet (single key)
On the evening of 27 April 2024, four masked attackers disguised as Canada Post delivery workers gained entry to the Port Moody, British Columbia home of a Bitc
The Bitcoin—purchased near the 2021 high—remained inaccessible in 2024 as prices
Hardware wallet (single key)
A hardware wallet user attempted to access a Trezor Model T wallet in early 2024 after the device had been stored unused for three years. The user had set a cus
The professional service had been wound down in 2023 and was no longer operating.
Hardware wallet (single key)
A 2024 estate case involved a 3-of-5 multisignature wallet where the deceased holder had held two of the five keys, a trusted friend held one, and two further k
A former Los Angeles Police Department officer was convicted by jury for physically
Hardware wallet (single key)
In late 2024, a former Los Angeles Police Department officer was convicted by jury for physically coercing cryptocurrency holders into transferring approximatel
Documentation absent — hardware wallet (2024)
Hardware wallet (single key)
As Bitcoin passed $100,000 in December 2024, a wave of media coverage on lost Bitcoin highlighted the scale of permanently inaccessible supply. Ledger analysts
Device discarded — hardware wallet (2024)
Hardware wallet (single key)
On 3 December 2024, the Cardiff Civil and Family Justice Centre heard James Howells's claim against Newport City Council over the right to excavate the Docksway
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