Part of the CustodyStress archive of observed Bitcoin custody incidents
CS-01281
Court approval of the FTX reorganisation plan, international creditors across more than
ConstrainedCase description
Following the October 2024 court approval of the FTX reorganisation plan, international creditors across more than 200 jurisdictions faced varying timelines and compliance hurdles before receiving distributions. The plan required creditors to complete KYC verification, register with a distribution agent, and meet local legal requirements. FTX's estate noted it was working to finalise arrangements for distributions across more than 200 countries. International customers who had not maintained contact with the claims process, or whose email addresses on file were no longer valid, faced additional delays. Some creditors in jurisdictions with limited distribution agent coverage faced extended waits.
Custody context
| Stress condition | Vendor lockout |
| Custody system | Exchange custody |
| Outcome | Constrained |
| Documentation | Unknown |
| Year observed | 2024 |
| Country | International |
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.
Submit a case
← All cases
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.
Translate