• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Court Denies Lawsuit for Lost Bitcoin Worth $770M

user avatar

by Giorgi Kostiuk

a year ago

A UK court ruled against James Howells, who sought to retrieve a hard drive with 8,000 Bitcoin discarded in a Newport landfill.

James Howells' Case

James Howells, a Welsh IT engineer, lost a hard drive in 2013 when it was accidentally thrown away by his partner. The Bitcoin, mined in 2009, had increased significantly in value. Howells' attempts to reclaim the drive through the courts failed due to high costs and environmental risks.

Proposal to Newport City Council

Howells repeatedly proposed to the Newport City Council to excavate the landfill, offering to bear the costs and share 25% of the Bitcoin. However, the council rejected his proposals citing financial and environmental concerns.

Historical Examples of Bitcoin Loss

This case is reminiscent of Bitcoin Pizza Day. In 2012, programmer Laszlo Hanyecz made the first real-world Bitcoin transaction by purchasing two pizzas for 10,000 BTC, which was worth $41 then. Today, that amount would be worth over $700 million.

The court's decision marks the end of Howells' efforts to reclaim his cryptocurrency, highlighting the risks associated with digital asset storage.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Balancer DAO Implements Governance Reforms to Enhance Security Post-Exploit

chest

Balancer DAO is implementing governance reforms to enhance security and compliance following a recent exploit.

user avatarBayarjavkhlan Ganbaatar

Institutional Activity and ETF Flows for Solana (SOL)

chest

Institutional participation in Solana is increasing, with significant ETF inflows and private placements.

user avatarMohamed Farouk

FLOKI Stabilizes After Recent Volatility

chest

FLOKI is showing signs of stabilization, potentially positioning itself for a recovery.

user avatarElias Mukuru

SARB Issues Warning on Crypto and Stablecoins Risks

chest

The South African Reserve Bank (SARB) has issued a warning about the risks associated with crypto assets and stablecoins, highlighting concerns over their potential to circumvent financial regulations.

user avatarKenji Takahashi

South African Reserve Bank Focuses on Payment System Modernization Over CBDC

chest

The South African Reserve Bank prioritizes modernizing the payments system over the immediate need for a retail central bank digital currency (CBDC).

user avatarDiego Alvarez

Elliott Wave Analysis Suggests Continued Upside for Ethereum

chest

Market analysts predict continued upside for Ethereum based on Elliott Wave analysis, with targets set at $3,170 and $3,356.

user avatarMaria Fernandez

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.