Legal Effort Secures Early Cryptocurrency Holdings as Experts Estimate Over 5,500 BTC May Still Be Tied to Former Platform Users
A British Bitcoin investor identified as Chris has successfully regained control of 61 BTC, valued at approximately £3.3 million, after losing access to the assets for more than 12 years following the collapse of early UK cryptocurrency exchange Intersango. Originally purchasing the coins for £1,500 in 2011 when they traded at £2.94 each, the investor had largely written off the holdings after years of failed recovery attempts.
Instructing CEL Solicitors in January, legal teams gathered historical bank statements, old emails, and exchange records to establish ownership. Following negotiations and the preparation of documents for US court proceedings, the case was successfully settled in late May without requiring a judge’s final ruling.
The Fall of Intersango and Broader Recovery Prospects
Chris initially bought the cryptocurrency through Britcoin, an early exchange that later transitioned into Intersango before going offline in 2014. Because the platform operated without regulatory oversight from the Financial Conduct Authority (FCA), users were left with limited options when accounts were frozen and websites went dark.
While Chris has successfully transferred his recovered assets to an FCA-regulated platform, with plans to purchase a larger home to accommodate his family, legal experts note that his case could pave the way for other claimants. Up to 5,500 BTC, valued in the region of £500 million, may remain tied to former Intersango users, though subsequent recoveries will require claimants to rigorously prove ownership through archival records.
