// startup autopsy
Cashaa
The UK crypto bank that lost 336 Bitcoin in a hack and never recovered operationally
security failureSudden Collapse
Unexpected shutdown within weeks of a trigger · Fatal mistake: Security Failure
// the model, blind
Evaluating only Cashaa’s profile at its peak — without knowing the outcome — the model ranked Competition as the #1 likely cause. Documented cause: Security failure.
Key Events Timeline
FOUNDING
Cashaa founded as a London-based crypto-friendly banking platform.
FUNDING
Cashaa raises $11.8 million in Series A funding to expand crypto banking services.
PRODUCT LAUNCH
Cashaa launches regulated debit card and expanded UK crypto services attracting significant user growth.
FRAUD EXPOSURE
Cashaa suffers major security breach with 336 Bitcoin (approximately $11 million) stolen from hot wallet.
REGULATORY ACTION
UK Financial Conduct Authority intensifies scrutiny of Cashaa following the hack and tightens crypto banking regulations.
DOWN ROUND
Cashaa significantly contracts operations and reduces staff in response to regulatory pressure and reputational damage.
SHUTDOWN
Sudden Collapse: Cashaa ceases operations as regulatory compliance costs become unsustainable.