A British investor has recovered 61 BTC more than 12 years after losing access to the coins when the early cryptocurrency exchange Intersango collapsed.

The recovered Bitcoin is now worth around £3.3 million. The investor, known publicly only as Chris, reached a settlement through negotiations after lawyers collected historical records demonstrating that the funds belonged to him.

Chris purchased £1,500 worth of Bitcoin in 2011, when BTC traded at roughly £2.94. The coins were acquired through Britcoin, which later became Intersango. According to CEL Solicitors, Chris instructed the firm in January 2026, and his claim was resolved on May 28, about four months later.

Lawyers used old bank statements, emails, exchange records and documents connected to US court proceedings to establish his ownership. CEL Solicitors said it has traced more than 5,500 BTC associated with former Intersango users, although each claimant must provide evidence linking specific holdings to them.

A 12-Year Journey to Recover the Bitcoin

Intersango attracted thousands of customers during Bitcoin’s early development but began facing difficulties in late 2012. By early 2014, its website had gone offline and customers trying to withdraw their funds were unable to receive a response.

Chris realized his account was inaccessible when he attempted to transfer his Bitcoin. At the time, his 61 BTC were worth only around £4,000.

After making several unsuccessful attempts to reach the exchange, he eventually assumed the coins were gone. As Bitcoin prices surged over the following decade, the potential value of his lost holdings became increasingly significant.

Chris told LBC that watching Bitcoin climb in value was difficult after he had already written off the funds. He decided to make another recovery attempt in early 2026 after encouragement from his wife led him to contact CEL Solicitors.

Ryan Sweetnam, director of financial litigation at CEL Solicitors, said the firm had to compile documentation related to US court proceedings as part of the recovery process.

Rather than going to trial, the individual claim was eventually settled through negotiations. CEL Solicitors said the 61 BTC were transferred to a wallet controlled by Chris after the agreement was reached.

Chris has since moved the recovered Bitcoin to an FCA-regulated platform. He plans to keep some of the assets in cryptocurrency while converting part of the holdings into cash.

Other Intersango Users Could Seek Recovery

Intersango was not regulated by the Financial Conduct Authority, leaving customers with limited protections when the exchange ceased operating.

The case is different from situations where Bitcoin becomes inaccessible because an owner loses a private key or forgets a password. In Chris’s case, the coins were held through an exchange that stopped operating, creating a dispute over access and ownership.

The three co-founders of Intersango have been involved in legal proceedings concerning the exchange’s closure. Those proceedings have included allegations that one of the founders controls approximately 5,500 BTC, worth around £500 million, and that some of those coins could belong to former customers.

Sweetnam said the litigation acknowledged the continued existence of assets associated with former Intersango users.

That could provide a possible avenue for other former customers seeking to recover their Bitcoin. However, each claimant must demonstrate ownership of the particular assets being pursued.

Historical bank statements, emails from Intersango, transaction records and other documentation could help establish a claim. An email address used when opening an old Intersango account may also help trace customer records.

UK Crypto Regulation Has Evolved

The regulatory framework governing crypto businesses in Britain has changed considerably since Intersango disappeared, although the country’s new authorization regime has not yet taken effect.

The FCA is expected to accept applications for the new regime between September 30, 2026, and February 28, 2027.

The framework is scheduled to come into force on October 25, 2027. From then, crypto trading platforms, custodians, stablecoin issuers and other businesses covered by the rules will need authorization to conduct regulated activities in the UK.

For former Intersango customers, the key challenge remains gathering enough historical evidence to prove that the Bitcoin they are seeking can be tied directly to their accounts and ownership.