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An early cryptocurrency investor is suing to recover a wallet containing $560 million in Bitcoin (BTC).
According to a new report in the Daily Mail, James Howells accidentally threw away 8,000 bitcoins 10 years ago and now hopes he can get them back through a lawsuit.
Her partner at the time reportedly threw away the hard drive containing the crypto assets in a black trash bag.
After some investigation, Howells believes the hard drive is located in a specific area of South Wales Landfill in the UK, known as the Newport Household Waste Recycling Centre. But searching the area would require digging up 100,000 tonnes of rubbish buried beneath two hills, and Newport Council, which oversees the landfill, has responded to multiple requests by him for permission to excavate the area. is refusing.
The city council has reportedly said it cannot disturb the landfill due to strict environmental regulations. Howells even offered to give Congress a portion of his Bitcoin profits if he found them.
The city council says:
“We have been contacted numerous times since 2013 about the possibility of recovering some of the IT hardware that allegedly contains Bitcoin, but it is unlikely that it will end up in our landfill. We don’t know if there is. The City Council has repeatedly told Mr Howells that excavation is not possible under environmental permits and that work of that nature would have a significant negative environmental impact on the surrounding area. Ta.”
Howells is currently asking the High Court to allow him to search for the bitcoins, and is backed by hedge fund investors who will get a share of the recovered bitcoins.
Howells says.
“The council may be happy to leave it in the landfill, but I’m not. They want me to go away and forget about it, but who can? Why back down? Should I? All I want is a chance to get my property back.”
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Disclaimer: The opinions expressed on The Daily Hodl do not constitute investment advice. Investors should perform due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that transfers and transactions are made at your own risk and any losses you may incur are your responsibility. The Daily Hodl does not recommend buying or selling any cryptocurrencies or digital assets. The Daily Hodl is also not an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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