A British investor has recovered 61 BTC that had been inaccessible for more than 12 years after the shutdown of the early cryptocurrency exchange Intersango.
The Bitcoin is currently worth around £3.3 million. The investor, identified as Chris, secured the return through negotiations after lawyers gathered historical records demonstrating his ownership, rather than relying on a court ruling.
Chris originally spent £1,500 on Bitcoin in 2011, when each coin was worth about £2.94. He acquired the BTC through Britcoin, which later became Intersango. CEL Solicitors said he approached the firm in January 2026, and his claim was settled on May 28, approximately four months later.
The legal team relied on old bank statements, emails, exchange records and documentation associated with US court proceedings to establish the claim. CEL Solicitors said it has traced more than 5,500 BTC linked to former Intersango customers, although each individual must still prove ownership of the Bitcoin they are claiming.
From a £4,000 Holding to £3.3 Million
Intersango served thousands of customers during Bitcoin’s early years but encountered problems toward the end of 2012. Its website eventually disappeared in early 2014, and customers attempting to withdraw their funds were unable to get a response.
Chris discovered he could no longer move his Bitcoin from the platform. At the time, his 61 BTC were worth roughly £4,000.
After multiple unsuccessful attempts to contact the exchange, he eventually considered the funds lost. Bitcoin’s subsequent price surge made the experience even more painful, as the value of the inaccessible coins increased dramatically.
Chris told LBC that watching BTC appreciate was difficult after he had already given up hope of recovering his holdings. He returned to the issue in early 2026 after his wife suggested contacting CEL Solicitors.
Ryan Sweetnam, the firm’s director of financial litigation, said lawyers had to prepare extensive documentation connected to US court proceedings before the claim could be resolved.
The case was ultimately settled through negotiations without a judge making a decision on the ownership dispute. CEL Solicitors said the 61 BTC were eventually transferred to a wallet controlled by Chris.
He has since moved the recovered Bitcoin to a platform regulated by the UK’s Financial Conduct Authority. Chris said he intends to retain some of the cryptocurrency while converting part of it into cash.
Why Other Intersango Customers Could Follow
Intersango did not operate under Financial Conduct Authority regulation, leaving customers with limited protections after the exchange ceased trading.
Chris’s recovery also differs from typical cases involving lost private keys or forgotten passwords. His Bitcoin remained connected to an exchange that stopped operating, rather than being permanently inaccessible because of a lost key.
The three founders of Intersango have been involved in legal proceedings related to the exchange’s closure. Those proceedings included allegations that one founder controls approximately 5,500 BTC, now worth about £500 million, with at least some of those holdings potentially belonging to former customers.
Sweetnam said the litigation recognized that Bitcoin associated with former Intersango customers still existed.
That could give other former users a potential route to pursue their own claims. However, they will need evidence showing that the specific Bitcoin they are seeking belongs to them.
Old bank statements, exchange emails and transaction records could help establish ownership. Even the email address originally used to register an Intersango account may provide useful information for tracing historical records.
UK Crypto Rules Have Also Changed
The regulatory landscape for crypto businesses in the UK has evolved significantly since Intersango shut down.
Under the upcoming framework, the FCA is scheduled to accept applications from September 30, 2026, through February 28, 2027. The new regime is expected to take effect on October 25, 2027.
Once implemented, crypto trading platforms, custodians, stablecoin issuers and other businesses covered by the rules will need authorization to carry out regulated crypto activities in the UK.
For former Intersango customers, however, the immediate challenge remains proving ownership of assets that have been inaccessible for more than a decade.
