British Investor Recovers £3.3 million in Bitcoin After 12‑Year Legal Battle

A British investor identified only as “Chris” has finally regained access to 61 BTC that were locked up when the UK exchange Intersango (formerly Britcoin) collapsed in early 2014. The recovered coins are now valued at roughly £3.3 million ($4.4 million).

Background

Chris bought the 61 BTC in 2011, when the price was around £0.16 per coin. He deposited the funds with Intersango, the first UK platform to offer pound‑denominated Bitcoin trading. The coins remained on the exchange rather than being moved to a self‑custody wallet.

Exchange failure and loss of access

Intersango ceased operations in 2014 without FCA licensing, leaving customers unable to withdraw their assets. Chris watched Bitcoin’s price rise over the years but assumed the funds were lost.

Legal effort and recovery

In 2018, after receiving outreach emails from the exchange’s founders, Chris consulted CEL Solicitors, a firm specializing in cryptocurrency recovery. Director of Financial Litigation Ryan Sweetnam negotiated with U.S. courts, submitting required documentation over a four‑month period. The process concluded without a courtroom trial, resulting in the return of the 61 BTC to Chris.

Impact

Chris described the moment of recovery as a “jaw‑dropping” surprise for his family. He now monitors the wallet multiple times a day, noting that even regulated exchanges do not guarantee protection for crypto assets.

Takeaway

The case underscores the risks of leaving cryptocurrency in exchange custody and highlights the potential for legal avenues to retrieve lost funds, even many years after an exchange’s collapse.