Intersango Hunt Unleashes Potential $432M in Forgotten Bitcoin Fortunes
CEL Solicitors has made a significant breakthrough in tracing over 5,500 BTC that they believe belong to former users of Intersango, an early Bitcoin exchange that shut down more than a decade ago. At today's price near $78,824, these coins are worth around $433.5 million.
One example of a successful recovery is a former UK customer who recovered 61 BTC from the exchange's remains. This investor instructed CEL on January 20 and received all 61 coins back on May 28, now valued at approximately $4.81 million.
CHEL says that former Intersango users may have claims against these BTC, but each claimant needs evidence connecting an old account balance to the assets. The firm emphasizes the importance of records created during Bitcoin's earliest years, including emails, bank statements, support tickets, and account records that once documented balances worth a few dollars.
The value of these recovered coins is staggering, considering that in 2012, Intersango offered 625 BTC for $12.10 each, valuing the entire batch at roughly $7,563 at the time. Today, those same 625 BTC are worth about $49.3 million.