"Thought It Was Gone Forever"... Bitcoin Lost in Exchange Shutdown Turns into $4.5 Million Windfall After 12 Years

Unable to access Bitcoin after exchange closed in 2011

Recovered 59 BTC after long search; value up about 2,250 times

The story of a British investor who reclaimed Bitcoin thought to have been lost following the closure of an exchange 12 years ago has been making headlines. The investment—which was worth only $2,000 (269,000 won) at the time—has now grown to $4.5 million (6,038,550,000 won).

On September 6, cryptocurrency-focused media outlet CoinDesk reported that “a British investor recently regained access to Bitcoin that had been inaccessible for 12 years.”

According to British law firm CEL Solicitors, the investor—known by the pseudonym “Chris”—recently recovered Bitcoin purchased through the now-defunct UK cryptocurrency exchange Intersango.

Chris first bought Bitcoin in December 2011 through the UK cryptocurrency exchange Britcoin. Britcoin later rebranded as Intersango, which suspended trading at the end of 2012 and shut down completely in early 2014.

The amount Chris invested at the time was about $2,000 (269,000 won). The value of his holdings eventually rose to $5,400 (725,000 won), but when the exchange ceased operations, he lost access to his Bitcoin.

Chris said, “The hardest part was watching the price of Bitcoin keep rising and thinking about what I could have done with that money.”