A software engineer recently filed a lawsuit against the Newport City Council in Wales, seeking approximately £495.31 million ($647 million) in damages. James Howells accidentally threw out a hard drive containing thousands of bitcoins, which are now worth half a billion dollars.
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In 2013, a hard drive containing 8,000 units of Bitcoin, currently valued at over $514 million, was reportedly thrown away. In a lawsuit, Howells claimed that the city denied his requests to excavate the landfill where the hard drive is believed to be buried. According to WalesOnline, Howells filed the lawsuit strategically to get the city to approve the excavation. Additionally, he hired a team to lead the excavation at no cost to the council.
Howells also proposed giving the city council ten percent of the Bitcoin’s value if it is successfully recovered. His case is scheduled for a hearing in December, but the Newport Council has reportedly downplayed the lawsuit, stating concerns about the environmental impact of digging through the landfill.
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He is reportedly seeking compensation reflecting Bitcoin’s increased valuation from earlier this year when the cryptocurrency reached a new level. The lawsuit is a push for his attempt to recover his missing fortune, though it is unclear whether the excavation will proceed or if the hard drive will be found again.