Man Sues Council Over Lost Bitcoin Fortune
James Howell, aged 39, is embroiled in a legal battle with Newport City Council, seeking a staggering $646 million (£495 million) in damages. The crux of the dispute revolves around a hard drive discarded at a recycling center, containing a fortune of 8,000 Bitcoin.
The Backstory
- In 2009, Howell mined 8,000 Bitcoin using his laptop.
- In 2013, during a household clean-up, Howell inadvertently disposed of the hard drive containing his Bitcoin.
- His requests for permission to search the landfill have repeatedly been declined due to environmental concerns.
Howell’s major blunder occurred when he mistakenly bundled his Bitcoin hard drive into a bag for disposal, while another discarded drive remained blank. At the time, the Bitcoin’s worth was approximately $1.3 million (£1 million), but it surged to around $11.7 million (£9 million) within three months.
Legal Developments and Agreements
Despite losing his asset, Howell managed to negotiate an agreement allowing him to retain 30% of his Bitcoin should the hard drive be retrieved. The remainder is set to be divided among his investors, the recovery team, and the council.
According to Howell, he has felt largely ignored by the council since he first approached them in 2013. He expressed frustration, stating, “I’m still allocating 10% of the value for the council even though they have been problematic throughout,” which he estimates could be around £41 million at present but potentially rise significantly in the future.
Environmental Concerns Surrounding the Excavation
Howell’s hard drive is reportedly buried in Cell 2, Area 2 of the Docksway landfill site. Excavation efforts, if allowed, would likely take between 18 to 36 months, followed by another 12 months dedicated to remediation. Despite assurances from the council about safely conducting the excavation and improving landfill practices, they have consistently denied Howell’s pleas due to alleged environmental impacts.
His legal representatives argue that the potential recovery of the Bitcoin could result in substantial benefits and investment in the local community, a point they feel the council has “simply ignored.”
The council’s attorneys counter that the hard drive is technically their property since it was disposed of at the landfill. However, Howell’s legal team contends that the hard drive was never intended for disposal.
Howell expressed his reluctance to undertake legal action but insists this is his last resort, with the case poised for a hearing in December.