Part of the CustodyStress archive of observed Bitcoin custody incidents
CS-01152
The government subsequently blocked access to the websites of these exchanges
ConstrainedCase description
Indian crypto exchanges faced a series of enforcement actions in 2023. India's Financial Intelligence Unit issued show-cause notices to several offshore exchanges—including Binance, Kraken, and OKX—for operating without registration under India's anti-money laundering laws. The government subsequently blocked access to the websites of these exchanges for Indian users. Indian customers who held Bitcoin on these platforms and accessed via the blocked websites found themselves abruptly unable to access their accounts until they used VPNs or migrated to Indian-regulated alternatives.
Custody context
| Stress condition | Legal or authority constraint |
| Custody system | Exchange custody |
| Outcome | Constrained |
| Documentation | Unknown |
| Year observed | 2023 |
| Country | India |
Structural dependencies observed
What this illustrates
Before anyone could access the funds, a legal process had to be completed first. Whether full access was ultimately possible is unclear, but significant delay or outside intervention was involved.
Outcome interpretation
Access remained possible, but only with delay, dependence, or significant difficulty.
Source
Publicly Reported
Evidence type
News article
Evidence link
Related cases involving legal or authority constraint
39 cases involve legal or authority constraint
512 cases involve exchange custody
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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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