James Howells, who lives in Newport, is trying to find a hard drive with 8,000 Bitcoin worth about $800 million that he accidentally threw away in 2013.
The Newport City Council has repeatedly denied his attempts to search a local landfill for the drive. They say that once items are thrown away, they belong to the council and cannot be taken back or sold. Howells wants to give 25% of any recovered funds to the council in return for permission to search, but the council has said no due to legal and logistical problems.
Howells has brought in a team of data recovery and excavation experts who have found a likely spot for the hard drive in the landfill. They plan to dig carefully to reduce harm to the environment.
At a recent court hearing, Howells’ legal team highlighted that the project would work on a contingency basis, which means the experts will only get paid if the Bitcoin is successfully recovered.
The council’s legal team rejected the proposal, saying it tries to get something they think can’t be legally sold. Howells’ situation is similar to other well-known crypto mistakes, like the famous purchase of two pizzas for 10,000 Bitcoin in 2010. Howells is still focused on getting permission for the search, pointing out the possible risks of handling digital assets.
