Huo Xing Cai Jing reports, according to CoinDesk, a UK investor purchased Bitcoin in 2011 through the UK exchange Britcoin (later renamed Intersango) for less than $4 per coin, investing approximately £1,500 (around $2,000). The exchange ceased trading by the end of 2012 and went offline in early 2014, causing the investor to lose access to his wallet. For over a decade, he watched Bitcoin’s price surge, believing he had permanently lost this wealth. The law firm CEL Solicitors, using cryptocurrency tracking software from its sister company, identified a wallet believed to belong to an Intersango user containing over 5,500 BTC (approximately $421 million). The investor successfully recovered about $45,000 worth of Bitcoin, which is now valued at approximately $4.5 million. The law firm stated that other former Intersango users may also reclaim their funds if they can prove ownership.
UK investor recovers 2012-lost Bitcoin worth $4.5M
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Summary
Bitcoin breaking news: A UK investor has recovered 4.5 BTC, now worth $4.5 million, after losing access to his wallet in 2012. He originally purchased Bitcoin in 2011 through Britcoin (later Intersango) for $2,000. The exchange ceased operations in 2014. A law firm used tracking software to identify a wallet linked to Intersango users containing over 5,500 BTC. The investor reclaimed a portion of these funds, and others may do the same by proving ownership. This Bitcoin update underscores the potential for long-lost cryptocurrency to be recovered.
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