Part of the CustodyStress archive of observed Bitcoin custody incidents
CS-01412
FTX announced a third distribution of approximately $1.6 billion on September 30, 2025.
SurvivesCase description
FTX announced a third distribution of approximately $1.6 billion on September 30, 2025. Dotcom customer entitlement claims received an incremental 6% distribution bringing their cumulative recovery to 78%. US customer claims received an additional 40% bringing cumulative recovery to 95%. For creditors who had waited since November 2022, the September distribution was the third consecutive round of access restoration. However, creditors in jurisdictions not eligible for distributions—listed in FTX's portal—still had no access path, with FTX continuing to assess those jurisdictions.
Custody context
| Stress condition | Vendor lockout |
| Custody system | Exchange custody |
| Outcome | Survives |
| Documentation | Unknown |
| Year observed | 2025 |
| Country | United States |
Structural dependencies observed
Outcome interpretation
Access remained possible under the reported conditions.
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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