!['The Wallet Event': Crypto Startup Bankrupt After Losing Password to $38.9 Million Physical Crypto Wallet](https://log4dev.com/articles/the-wallet-event-crypto-startup-bankrupt-after-losing-password-to-38-9-million-physical-crypto-wallet-124/f1a661ed191f2fe6449185bc32dbfb0174a6f966e6a102820854cb72eb08a10ea284658c7814193791e83163e5f67a312d4a5bda2c349da067d460c1340442c9.jpg)
'The Wallet Event': Crypto Startup Bankrupt After Losing Password to $38.9 Million Physical Crypto Wallet
A buzzy startup offering financial infrastructure to crypto companies has found itself bankrupt primarily because it can’t gain access to a physical crypto wallet with $38.9 million in it. The company also did not write down recovery phrases, locking itself out of the wallet forever in something it has called “The Wallet Event” to a bankruptcy judge. Prime Trust pitches itself as a crypto fintech company designed to help other startups offer crypto retirement plans, know-your-customer interfaces, ensure liquidity, and a host of other services....