CustodyStress
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Part of the CustodyStress archive of observed Bitcoin custody incidents
CS-01303

Gox creditors who chose to receive their distributions through Kraken discovered

Survives
Case description
Mt. Gox creditors who chose to receive their distributions through Kraken discovered that Kraken required up to 90 days from the moment Bitcoin was transferred by the trustee before it would appear in creditor accounts. This was the longest processing timeline of the designated exchange partners. Some creditors who had waited a decade for their Bitcoin and then waited for the July 2024 distribution announcement found themselves facing another three months of inaccessibility while Kraken completed its internal processes. The variation in timelines across exchange partners—14 days to 90 days—meant equally situated creditors had very different access experiences.
Custody context
Stress conditionVendor lockout
Custody systemExchange custody
OutcomeSurvives
DocumentationUnknown
Year observed2024
CountryJapan
Structural dependencies observed
Institutional cooperation required
Outcome interpretation
Access remained possible under the reported conditions.
Source
Publicly Reported
Evidence type
News article
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Framework references
Terms guide
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.
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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