Part of the CustodyStress archive of observed Bitcoin custody incidents
CS-01365
Platform bankruptcy — exchange custody (2025)
BlockedCase description
A 2025 report on dormant exchange accounts estimated that approximately $2.1 billion in cryptocurrency remained in accounts on exchanges that had undergone bankruptcy proceedings and completed their formal claims processes—but where the original account holders either had not filed claims, had died without heirs filing on their behalf, or were in jurisdictions ineligible to receive distributions. These funds, formally unclaimed within the bankruptcy proceedings, faced varying legal treatment across jurisdictions—some estates retained the unclaimed balance for future creditor distributions, while others had no mechanism to accept further claims.
Custody context
| Stress condition | Vendor lockout |
| Custody system | Exchange custody |
| Outcome | Blocked |
| Documentation | Unknown |
| Year observed | 2025 |
| Country | International |
Structural dependencies observed
What this illustrates
Getting access back required help from an institution — and that help wasn't available. Access was not recoverable.
Outcome interpretation
Access was not possible under the reported conditions.
Source
Publicly Reported
Evidence type
News article
Evidence link
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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