Part of the CustodyStress archive of observed Bitcoin custody incidents
CS-01019
The court approved the release of approximately $270 million in cash held in Voyager's
ConstrainedCase description
In August 2022, distressed Voyager customers submitted letters to the bankruptcy judge in New York begging for their funds back. Many described having deposited life savings, home down payment money, or medical funds. The court approved the release of approximately $270 million in cash held in Voyager's FDIC-insured bank account, but the crypto assets remained frozen. The letters revealed that Voyager had marketed itself as a safe, insured product without making the crypto custody risks clear.
Custody context
| Stress condition | Vendor lockout |
| Custody system | Exchange custody |
| Outcome | Constrained |
| Documentation | Unknown |
| Year observed | 2022 |
| Country | United States |
Structural dependencies observed
What this illustrates
Getting access back required help from an institution — and that help wasn't available. 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
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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