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Coinpaprika 2024-12-06 09:01:00

Man Fights to Recover $800M Bitcoin Lost in Landfill

James Howells, a man from Newport, is fighting to recover a hard drive containing 8,000 Bitcoin , now worth approximately $800 million, buried in a local landfill. Howells accidentally discarded the hard drive during an office cleanup in 2013, and since then, his requests to search the landfill have been consistently rejected by Newport City Council. The council argues that discarded items in the landfill become their property and cannot be sold or retrieved. Howells has offered the council 25% of the recovered funds to gain permission for the search , but the council remains firm, citing legal and logistical challenges. Howells has assembled a team of data recovery and excavation experts who have pinpointed the likely location of the hard drive. Their plan involves a targeted excavation designed to minimize environmental impact. During a hearing at a Welsh court on December 2, his legal team argued that the project is being managed on a contingency basis, with the experts only receiving payment if the Bitcoin is recovered. The council's legal team dismissed the proposal, calling it an attempt to purchase something they claim cannot legally be sold. The hard drive, buried in the landfill for over a decade, represents one of the biggest losses in Bitcoin history. Social media users have compared Howells' misfortune to other famous cryptocurrency mishaps, such as the man who spent 10,000 Bitcoin on two pizzas in 2010, which would be worth billions today. Despite the obstacles, Howells continues to fight for permission to search the landfill. If his plans are approved, the recovery process would still be extremely challenging, likened to searching for a needle in a haystack. If denied, Howells’ story will remain a cautionary tale about the risks of handling digital assets.

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