Part of the CustodyStress archive of observed Bitcoin custody incidents
CS-01041
Institutional lockout — FTX (2022)
SurvivesCase description
FTX's collapse triggered a bank-run dynamic across the entire crypto exchange sector, with customers on Binance, OKX, and Crypto.com withdrawing billions in the days immediately following FTX's freeze. While these exchanges remained solvent and withdrawals were processed, the sheer volume caused delays of hours to days. Customers who needed to act quickly—to cover collateral calls or execute time-sensitive transactions—experienced de facto access constraints despite the exchanges remaining operational.
Custody context
| Stress condition | Vendor lockout |
| Custody system | Exchange custody |
| Outcome | Survives |
| Documentation | Unknown |
| Year observed | 2022 |
| Country | International |
Structural dependencies observed
Outcome interpretation
Access remained possible under the reported conditions.
Source
Publicly Reported
Evidence type
News article
Related cases involving vendor lockout
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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