According to Foresight News, Prime Trust CEO Jor Law said that the company used 98f hardware wallets to store tokens and moved its wallets to a system operated by Fireblocks in 2019, but did not realize that the migration from the old wallet to the new system was incomplete, nor did it realize that customers were still depositing funds into 98f wallet addresses.
The company was not aware of the errors until a user made a large ETH withdrawal, but the hardware wallet had already been discarded, containing more than $45 million worth of ETH. To this day, Prime Trust still cannot access the 98f wallet.
