• 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

2 years 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

CZ Zhao Issues Warning on Hardware Wallet Security Following Major Exploit

chest

CZ Zhao warns cryptocurrency owners about hardware wallet vulnerabilities following a major exploit that resulted in significant losses.

user avatarEmily Carter

Upbit Conducts Major Internal Wallet Reorganization of SHIB

chest

South Korean exchange Upbit has reorganized 864 billion SHIB across its internal wallet addresses as part of a standard internal rebalancing process aimed at managing liquidity and security.

user avatarTomas Novak

Avalanche Staking Value Reaches $20.477 Billion

chest

Avalanche's staking value has reached approximately $20.477 billion, indicating strong network participation.

user avatarMaya Lundqvist

Helicon Upgrade Activated on Fuji Testnet

chest

The Helicon upgrade has been activated on the Fuji testnet, marking a significant step in Avalanche's development.

user avatarKaterina Papadopoulou

Avalanche Awards Grant to YourGrails for Tokenization of Physical Trading Cards

chest

Avalanche's Team1 Accelerator awarded a $30,000 grant to YourGrails for tokenizing physical trading cards, supporting the growth of the real-world asset ecosystem.

user avatarLeo van der Veen

Aave Governance Considers Wind Down of Low-Use V3 Markets

chest

Aave governance is reviewing a proposal to wind down six low-adoption V3 markets and offboard dozens of reserves to reduce operational complexity.

user avatarLi Weicheng

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.