UK Judge Dismisses $770M Bitcoin Landfill Hard Drive Case: A Lesson for Crypto Investors
January 10 2025 - 3:25AM
NEWSBTC
A UK judge has dismissed the long-standing legal case of James
Howells, who sought access to a landfill containing a hard drive
with Bitcoin worth more than $770 million. This ends the 12-year
saga for the IT engineer from Newport, Wales that captivated the
cryptocurrency community all these years. Back in 2009, Howells
mined 8,000 Bitcoin, which was valued very low back then but is now
trading around $94,600, with the stage set for a major BTC comeback
after recent price drops. However, Howells’ former partner
mistakenly disposed of the hard drive that contained his private
keys in 2013, which rendered the funds inaccessible. Since then, he
has sought legal action to obtain permission to excavate the
Newport landfill. He even offered a share of the recovered Bitcoin
to the local council. James Howells Loses 12-Year Legal Battle
Although Howells made repeated requests and put forward his
proposal for excavation, the Newport City Council declined his
appeals citing logistical and environmental concerns. The final
blow came when Circuit Commercial Judge Keyser ruled out the case
on the grounds of “no realistic prospect” to succeed. He remarked
the search as looking for a needle in a haystack and was simply not
viable. “Anything that goes into the landfill goes into the
council’s ownership,” said the judge. Howells expressed his
frustration after losing the 12-year long legal battle, claiming
that the authorities had not considered his case properly. However,
he acknowledged that the court confirmed his ownership of the
Bitcoin. Now, he is left to explore alternative options like
tokenization to monetize his digital assets. The Howells case
serves as a precautionary tale for global crypto investors. It
demonstrates the importance of securely storing digital assets.
Cryptocurrencies are different from traditional financial systems
and need private keys for access. Losing these keys may result in
the permanent loss of the assets. Keep Your Crypto Safe with Best
Wallet This case is a wake-up call for those investing in
cryptocurrency, whether that’s the likes of Bitcoin and Ethereum or
one of the best meme coins. Digital solutions like Best Wallet are,
therefore, a must-have for every investor. It offers a secure
cloud-based platform, eliminating the risks associated with
physical storage devices like hard drives or USBs. Crypto wallets
come with features like automatic backups, multi-device
synchronization, and robust security protocols. Best Wallet, in
this context, ensures that investors never face catastrophic losses
like Howells. Investors prioritizing safety and convenience must
adopt a modern wallet as a smart step to protect their crypto
assets in the digital economy. With Best Wallet, you can buy,
store, sell, deposit, stake, and manage your crypto holdings in a
single place. Plus, you can track your portfolio in real-time with
quick overviews of all your transactions. The platform goes a step
ahead and also offers market insights and key crypto market updates
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