British investor recovers $4.5 million in bitcoin lost since 2012 exchange collapse
A British man recovered bitcoin now worth about $4.5 million after losing access to his holdings from a 2012 investment in the defunct Intersango exchange.
Why it matters
The case could set a precedent for other former Intersango customers seeking to recover lost cryptocurrency holdings, though the story is based on a single source and its broader significance remains limited.
Key facts
A British investor recovered bitcoin now valued at about $4.5 million
4,500,000 USDReported by CoinDesk
The investor bought his first bitcoin in December 2011 through Britcoin
Reported by CoinDesk
Intersango stopped trading in late 2012 and went offline by early 2014
Reported by CoinDesk
The investor's initial investment was around 1,500 pounds ($2,000)
2,000 USDReported by CoinDesk
His holdings rose to $5,400 before he lost access to the funds
5,400 USDReported by CoinDesk
CEL Solicitors identified a wallet holding more than 5,500 BTC linked to former Intersango users
5,500 BTCReported by CoinDesk
The Crypto Tracing Experts is a sister firm of CEL Solicitors that provided crypto-tracing software
Reported by CoinDesk
What happened
A British investor, identified by the pseudonym "Chris," recovered bitcoin now valued at approximately $4.5 million after losing access to funds invested more than a decade ago. He purchased his first bitcoin in December 2011 through Britcoin, a U.K. exchange that later became Intersango. The exchange stopped trading in late 2012 and went offline by early 2014, leaving Chris unable to access his holdings. His initial investment of around 1,500 pounds ($2,000) had risen to $5,400 before he lost access. Law firm CEL Solicitors, using crypto-tracing software through its sister firm The Crypto Tracing Experts, identified a wallet holding more than 5,500 BTC linked to former Intersango users. The case could offer a path for other customers who can prove ownership of bitcoin held by the defunct exchange.
How the story developed
- First report
First report by CoinDesk
British investor thought he lost $2,000 in bitcoin in 2012. He just recovered $4.5 million
- Update
Chris buys first bitcoin through Britcoin exchange
He made his initial investment of around 1,500 pounds ($2,000)
- Update
Intersango stops trading
The exchange, which had absorbed Britcoin, ceased operations
- Update
Intersango goes offline
The defunct exchange's website was taken down
- Update
CoinDesk publishes report on recovered bitcoin
The story reports on Chris's recovery of $4.5 million in bitcoin through CEL Solicitors
Affected entities
Original sources
| Publisher | Report | Role | Published |
|---|---|---|---|
| CoinDesk Crypto media | British investor thought he lost $2,000 in bitcoin in 2012. He just recovered $4.5 million | Original |
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