A man is suing Newport Council for nearly 500 million pounds to recover 8,000 Bitcoin (BTC), which he claims he lost due to a mix-up that led to his hard drive being disposed of at a recycling center in 2013.
James Howells has filed the lawsuit as a “last resort” after more than ten years of what he describes as being “largely ignored” by the council.
The Lost Bitcoin
According to local media reports, Howells is seeking just under half a billion pounds, which translates to $646.4 million. This represents the highest valuation of his Bitcoin holdings from earlier in the year when the cryptocurrency hit an all-time high (ATH) price of $73,737.
However, he emphasized that the amount does not reflect the actual situation. Instead, it aims to “leverage” the council into allowing an excavation of its landfill to avoid a legal battle.
The 39-year-old has assembled a team of experts willing to conduct a £10 million ($13 million) excavation at no cost to the council. He is also offering to share 10% of the recovered coins’ value, which he estimates could reach around $53.5 million based on current prices.
Howells says he lost the hard drive during a home office cleanup due to a miscommunication with his then-partner.
As an early adopter of Bitcoin, he claims he mined 8,000 coins at minimal cost. However, their value has soared tremendously since the incident, and if some of the predictions made by industry experts were to come true, the coins could be worth billions in the future.
Council’s Response
Since losing access to his Bitcoin, Howells has pursued recovery efforts full-time after leaving his IT job. The court filing states that the lost hard drive is in “Cell 2 – Area 2” of the Docksway landfill, with experts estimating an 80% chance of data retrieval. They suggest excavation could take 18 to 36 months, followed by a year of environmental remediation.
His expert team asserts they can “safely excavate” the site with the assistance of AI. They also pledge to assist in modernizing the landfill, which has repeatedly violated its permit since 2020 due to excessive levels of hazardous waste. Despite this, Newport Council has allegedly ignored Howells’ overtures.
Meanwhile, the council’s lawyers argue they legally own the hard drive since it was discarded, while his attorneys maintain he never intended to abandon it.
The group characterized Howells’ assertions as “weak” and stated that excavation is prohibited under their environmental permit. They also emphasized that it conducts strict environmental monitoring, and the related allegations are attempts to distract from the frailties in his claims.
The case will be heard in court in December, and the Welshman vows to continue trying to recover the hard drive until a judge officially stops him.
Read the full article here