Lawsuit Against Fireblocks Over Lost Ethereum Wallet!

Israel-based cryptocurrency custody service Firebloks is held responsible for the $70 million lost Ethereum wallet.

Lawsuit against Fireblocks, a cryptocurrency custody service, over a lost Ethereum wallet. The plaintiff company targeted Firebloks as the reason why the Ethereum wallet worth 70 million dollars could not be accessed. According to the news compiled by Calcalist from Israeli media, StakeHound, a cryptocurrency staking platform, has filed a lawsuit against Fireblocks company in Tel Aviv District Court. The reason for the lawsuit was cited as negligence in the disappearance of their Ethereum.

Wallet Consisting of 38,178 ETH Cannot Be Accessed

According to the claim made by StakeHound; a Fireblocks employee did not protect the wallet's keywords, which later disappeared. Therefore, StakeHound was unable to access the wallet, which had 38,178 ETH.

“From the Fault An Employee Not Working in Good Conditions...”

In the news in question, it was also noted in the case file that "This situation was caused by a human error of a company employee": “The defendant caused the plaintiff to irreversibly lose access to his digital assets and 38,178 Ethereum was inaccessible.” Fireblocks, on the other hand, stated that the situation is being investigated with an internal investigation. Company's statement said, "All customers' funds are safe. Customer keys are redundant and recoverable.”