CustodyStress
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Part of the CustodyStress archive of observed Bitcoin custody incidents
CS-01257

Gox rehabilitation trustee Nobuaki Kobayashi announced that repayments of Bitcoin

Constrained
Case description
On 24 June 2024, Mt. Gox rehabilitation trustee Nobuaki Kobayashi announced that repayments of Bitcoin and Bitcoin Cash to creditors would commence in July 2024—a decade after the exchange's 2014 bankruptcy. The trustee confirmed that preparations for safe and compliant repayments, including technical infrastructure and KYC arrangements with designated exchange partners, were complete. Creditors who had not completed the required verification procedures were instructed to do so before repayments could be made. The announcement followed years of deadline extensions and caused Bitcoin's price to fall approximately 6% on the day, as markets priced in anticipated selling pressure.
Custody context
Stress conditionVendor lockout
Custody systemExchange custody
OutcomeConstrained
DocumentationUnknown
Year observed2024
CountryJapan
Structural dependencies observed
Institutional cooperation required
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
Evidence link
https://www.theblock.co/post/301448/mt-gox-to-distribute-9-billion-of-bitcoin-bitcoin-cash-repayments-from-beginning-of-july
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170 cases involve vendor lockout 512 cases involve exchange custody View archive statistics →
This archive documents observed custody survivability failures. It does not attempt to document all Bitcoin losses or security incidents. Submit a case
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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.
Terms guide
Outcome terms
Survives
Access remained possible under the reported conditions.
Constrained
Access remained possible, but only with delay, dependence, or significant difficulty.
Blocked
Access was not possible under the reported conditions.
Indeterminate
There was not enough information to determine the outcome.
Structural terms
Single-person knowledge
Recovery depended on information or capability held by one individual who was unavailable.
Institutional dependence
Recovery depended on a third-party institution or service that was inaccessible or uncooperative.
Documentation gap
Recovery depended on instructions that were missing, incomplete, or unclear.
Authority mismatch
The person with legal authority to act did not have operational access, or vice versa.
Original text
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