"A 2.7 Million Won Investment Returned as 6 Billion Won"—Man in His 60s Finds Bitcoin That Had Been Dormant for 14 Years

[Financial News] Bitcoin that had been tied up at a cryptocurrency exchange that closed 14 years ago and was believed to have been effectively lost has returned to its original owner through professional tracing. The investment, worth about 2.7 million won at the time, has grown to approximately 6 billion won amid Bitcoin’s explosive rise in value over the years.
According to News1 on the 7th, a British investor known by the pseudonym “Chris” purchased approximately 1,500 pounds’ worth of Bitcoin—about 2.7 million won—through the local cryptocurrency exchange Brictcoin in December 2011. At the time, Bitcoin was priced at less than $4 per coin.
Problems arose after Brictcoin changed its name to Intersango, halted trading at the end of 2012, and ultimately shut down in early 2014. With all withdrawal channels blocked, Chris was unable to recover his assets for more than a decade.
In a local interview, Chris recalled, “The most painful part was watching the price of Bitcoin soar and thinking about what I could have done with that money.” He added, “I had young children at the time and was financially stretched because I was buying a new home, so the sense of loss was even greater.”
A breakthrough in recovering the assets, which had been left untouched for years, came through the technical investigation conducted by a specialized law firm. UK cryptocurrency law firm CEL Solicitors used blockchain data-tracking software to identify wallet addresses where the assets of former Intersango users had been frozen. More than 5,500 Bitcoins were found to have been held in those wallets.
The Bitcoin returned to Chris is currently valued at approximately $4.5 million, or about 6 billion won. Compared with the original purchase, this represents a return of more than 2,200 times. Chris said he plans to use the recovered funds to pay off his son’s mortgage and continue holding the remaining Bitcoin as a long-term investment.
CEL Solicitors added, “If other Intersango victims can clearly prove their Bitcoin purchases and ownership on the exchange through past bank deposit and withdrawal records, order histories, and other documentation, they may also have a chance to recover their frozen assets.”
[email protected] Moon Young-jin Reporter