Part of the CustodyStress archive of observed Bitcoin custody incidents
CS-01302
After the holder failed to respond to multiple re-verification requests over a 12-month
SurvivesCase description
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. The holder's relationship with Unchained required periodic re-verification of identity and account status. After the holder failed to respond to multiple re-verification requests over a 12-month period, Unchained placed the account in a suspended state pending identity confirmation. The holder was not deceased but had changed email addresses and had not seen the re-verification notices. Resolving the suspension required identity re-verification through Unchained's compliance process, taking approximately three weeks.
Custody context
| Stress condition | Multisig quorum failure |
| Custody system | Hardware wallet (single key) |
| Outcome | Survives |
| Documentation | Unknown |
| Year observed | 2024 |
| Country | International |
Structural dependencies observed
Outcome interpretation
Access remained possible under the reported conditions.
Source
Privately Reported
Evidence type
News article
Related cases involving multisig quorum failure
77 cases involve multisig quorum failure
274 cases involve hardware wallet (single key)
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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.