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A United Kingdom investor has successfully retrieved Bitcoin he lost over a decade ago, as reported by CoinDesk on September 5. The assets, which were initially valued at $2,000, have skyrocketed approximately 2,250 times to reach $4.5 million.
U.K.-based law firm CEL Solicitors announced that they helped a client, known only as “Chris,” regain Bitcoin he had procured via the now-defunct British exchange Intersango.
Chris made his initial Bitcoin purchase in December 2011 through a platform called Britcoin, which later rebranded as Intersango. The exchange ceased trading operations in late 2012 and completely shut down by early 2014.
At that time, Chris’s investment was around 1,500 pounds, equivalent to $2,000. The value of these holdings eventually increased to $5,400, but access to them was lost when the exchange went offline. “The hardest part was witnessing the continuous rise in Bitcoin’s price and contemplating the opportunities I missed out on,” he shared.
Using specialized digital-asset tracing technology from its sister company, The Crypto Tracing Experts, CEL Solicitors managed to discover a wallet believed to contain assets of Intersango’s former users. This wallet reportedly holds more than 5,500 Bitcoin, valued at approximately $421 million based on current market rates.
Chris successfully recovered around 59 Bitcoin, with the total value now estimated to be about $4.5 million. When he initially bought Bitcoin, the price was below $4, whereas it is currently trading at approximately $76,500.