Hard drive with $ 770 million worth of bitcoins lost forever

James Howells, an American IT engineer, has lost a multi-year court case in the UK trying to recover a hard drive containing more than 8,000 bitcoins BTC $94,984.65 Bitcoin 2.26% Market capitalization $1.88 trillion VOL. 24 hours $3.37 billion (equivalent to more than $ 770 million — ed.). The disk was accidentally dumped in a landfill in 2013, but Newport City Council has consistently denied him access to the landfill due to environmental restrictions. The judge found that Howells' claim had «no realistic chance» of success.

Despite numerous attempts, including offering advanced excavation methods and sharing some of the recovered bitcoin with the city council, the authorities remained adamant. Howells said he is considering alternative ways to monetize his rights to 8000 BTC, such as through tokenization.

The high-profile case has attracted considerable public attention, especially as the value of bitcoin is expected to rise to $ 100,000 in 2024. The situation highlights the regulatory challenges associated with the protection of cryptocurrency assets, especially in the face of legal restrictions and environmental regulations. Howells noted that the UK judicial system did not give due consideration to the value of the assets that could have been salvaged.