Man Sues City Council After Accidentally Dumping $500 Million Worth of Bitcoin in Landfill

James Howells, a software engineer from Wales, is pursuing legal action against Newport City Council after accidentally throwing away a hard drive containing 8,000 Bitcoins, now valued at more than $500 million. Howells is fighting to get approval to search the landfill where the drive is believed to be buried.

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Accidental Loss of Bitcoin Worth Millions

In 2013, Howells unknowingly discarded the hard drive while cleaning his office. At the time, the value of Bitcoin was relatively low, making the loss seem less significant. However, as the cryptocurrency market surged, the value of the lost Bitcoins has reached over $500 million, transforming the discarded hard drive into a hidden fortune.

Council Denies Requests to Search Landfill

Howells has repeatedly asked Newport City Council for permission to excavate the landfill where the hard drive may be located. He has offered to fund the entire operation and has even proposed giving the council 10% of the recovered Bitcoin's value. Despite his efforts, the council has consistently refused his requests, citing environmental concerns as the primary reason for denying the excavation.

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Legal Action to Pressure Council

After facing multiple rejections, Howells has now filed a lawsuit against the council, seeking approximately £495.31 million ($647 million) in damages. However, Howells clarified that the lawsuit is not about the money but a way to push the council into allowing the excavation. Newport City Council has described the case as weak and maintains its stance against disturbing the landfill, highlighting potential environmental risks.

Why This Case Has Gained Global Attention

The case has drawn attention due to the incredible value of the lost Bitcoin and the unique circumstances surrounding it. The story underscores the risks of handling digital assets, as losing access to a storage device can result in losing substantial wealth forever. As of today, the 8,000 Bitcoins are worth around $514 million, down from earlier highs as cryptocurrency prices fluctuate.

Upcoming Hearing Could Determine Outcome

Howells' lawsuit is set for a hearing in December. The outcome could set a precedent for similar cases involving lost digital assets and how local governments address such issues. If successful, Howells may finally get a chance to recover his lost fortune, but for now, the dispute remains unresolved.

Also Read: These Cryptocurrencies Are Beating Bitcoin in 2024: Meme Coins, AI Tokens & More