Part of the CustodyStress archive of observed Bitcoin custody incidents
CS-01352
The plan set January 3, 2025 as the initial record date.
SurvivesCase description
FTX's Chapter 11 plan became effective on January 3, 2025, initiating the first genuine access restoration for FTX customers since the exchange froze withdrawals in November 2022. The plan set January 3, 2025 as the initial record date. Customers in the Convenience Classes—those with claims of $50,000 or less, representing approximately 98% of all creditors—had until January 20 to complete KYC verification, tax form submission, and onboarding with BitGo or Kraken to qualify for the initial distribution. This milestone ended a custody blockage lasting 26 months.
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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