IT Engineer Files $647 Million Lawsuit Over Lost Bitcoin Hard Drive
A Newport-based IT engineer, James Howells, is suing the Newport City Council for £495 million (around $647 million) after inadvertently discarding a hard drive containing 8,000 Bitcoin during a home cleanout in 2013.
Despite numerous efforts to retrieve the drive from a local landfill, the council has continually denied his requests to excavate the site, citing environmental concerns. Howells, who claims the Bitcoin is now worth nearly half a billion pounds, made the mistake of tossing the hard drive in a bag that ended up at a recycling center.
He has sought legal support for his claim, which is scheduled for a court hearing in December. Howells has offered the council 10% of the Bitcoin’s value if the hard drive is recovered.
However, the council has opposed the excavation, citing environmental risks linked to the landfill, which has faced scrutiny for exceeding safe levels of asbestos and other hazardous materials.
READ MORE: What Would It Mean for Bitcoin If Satoshi Nakamoto’s Identity Is Finally Revealed?
In 2022, Howells proposed an $11 million plan to search for the hard drive, believed to be buried under 110,000 tons of refuse, but the council remains skeptical about the feasibility and legality of his initiative.
To protect Bitcoin holdings, it is essential to store hardware wallets securely, keep private keys offline, and back up recovery phrases in multiple safe locations.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
