Part of the CustodyStress archive of observed Bitcoin custody incidents
CS-01030
Platform bankruptcy — FTX (2022)
IndeterminateCase description
The December 2022 arrest of Sam Bankman-Fried in the Bahamas triggered an additional freezing event for certain FTX-affiliated wallets that were under investigation. Assets in wallets that had been active in the period immediately before and after the bankruptcy were subject to additional law enforcement holds layered on top of the bankruptcy stay. Creditors whose assets had been moved by FTX into specific wallets in the pre-petition period faced potential clawback claims in addition to ordinary bankruptcy delays.
Custody context
| Stress condition | Vendor lockout |
| Custody system | Exchange custody |
| Outcome | Indeterminate |
| Documentation | Unknown |
| Year observed | 2022 |
| Country | International |
Structural dependencies observed
What this illustrates
Getting access back required help from an institution — and that help wasn't available. It's not clear whether anyone ever regained access.
Outcome interpretation
Not enough information is available to determine the outcome.
Source
Publicly Reported
Evidence type
News article
Evidence link
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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