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

Court Denies Retrieval of Bitcoin Hard Drive in Newport

user avatar

by Giorgi Kostiuk

4 months ago


James Howells' long-running battle to retrieve a hard drive with over $750 million worth of Bitcoin, lost in Newport's landfill, has ended disappointingly. The court rejected his excavation request.

The Beginning of the Story

The saga started in 2013 when James Howells, a former IT worker, mistakenly discarded a hard drive during an office cleanup. At that time, the Bitcoin contained was worth only a fraction of its current value. Over the years, as Bitcoin's price increased, the drive's worth reached approximately $750 million.

Court Proceedings

Howells proposed a £10 million ($12.3 million) excavation plan, offering 10% of any recovered funds to the local council and community. However, the Newport Council rejected the proposal, citing environmental risks. They argued it could breach environmental regulations. Howells sued, requesting either access to the landfill or $608 million in damages. The court ruled in favor of the council.

James Howells' New Plans

Despite the court's decision, Howells is determined to recover his fortune. He expressed frustration but noted the court did not dispute his ownership of the Bitcoin. Howells is now exploring alternatives, such as potentially creating a new cryptocurrency by tokenizing his Bitcoin.

James Howells' story exemplifies the complexity of legal cases involving lost cryptocurrencies. Despite the court ruling, his determination and pursuit of innovation might lead to new opportunities moving forward.

0

Share

Other news

BTC Bull Token and Solaxy: New Projects in the Crypto Market

BTC Bull Token and Solaxy capture investor attention, showcasing potential and significant achievements during the presale stage.

user avatarGiorgi Kostiuk

15 minutes ago

Gitcoin Closes Gitcoin Labs to Focus on Grant Program

Gitcoin closes its main software development unit due to financial difficulties and shifts focus towards grant program development.

user avatarGiorgi Kostiuk

16 minutes ago

Ethereum Lags Behind as Altcoins Recover

Analysis shows Ethereum maintains a bearish trend, with weak price dynamics compared to other altcoins.

user avatarGiorgi Kostiuk

17 minutes ago

Gora Network Strengthens its Position in DeFi and DAO

Gora Network announces expansion of DeFi use cases and DAO governance, reinforcing its position in the cryptocurrency market.

user avatarGiorgi Kostiuk

18 minutes ago

Bitcoin ETFs: Rising Investment Flows and Their Significance

This article analyzes the surge in Bitcoin ETF investments, highlighting the implications for traditional investors and trends in the crypto market.

user avatarGiorgi Kostiuk

19 minutes ago

Ohio Plans to Introduce Bitcoin for State Fees

Ohio is considering accepting Bitcoin for state fees, which may set a precedent for broader cryptocurrency adoption.

user avatarGiorgi Kostiuk

35 minutes ago

dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

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.