Datavault AI Bitcoin Withdrawal Trouble Highlights Custody Risks
Edited by Steinar Vigdel Kolnes, Editor, Oslo
Datavault AI disclosed it could not withdraw bitcoin from Biconomy, while its shares fell 50%, according to Bitcoin.com News.
Nasdaq-listed technology company Datavault AI reported on Oct. 26 that it was unable to withdraw bitcoin held on Biconomy, according to Bitcoin.com News.
The report said the small company lost access to its bitcoin and its stock price dropped 50%. The supplied account did not specify the amount of bitcoin affected or whether access was later restored.
The incident highlights a custody risk for investors in companies with bitcoin treasuries: corporate holdings can become inaccessible when withdrawals depend on a third-party platform.
Source: Bitcoin.com News
