$598 Million Bitcoin Hard Drive Case Abandoned After UK Court Ruling
A UK High Court judge has rejected James Howells' bid to recover a hard drive containing approximately 7,500 Bitcoin, which was disposed of in a landfill in 2013. The judge deemed Howell's claims for access to the landfill or financial compensation of £495 million as lacking reasonable grounds. Howells, a computer engineer who mined Bitcoin in its early days, saw the value of his lost cryptocurrency soar alongside its rising market price. He had argued that the hard drive, now estimated to be worth around $598 million, was still his property despite being thrown away. Since 2013, Howells has made several attempts to negotiate with Newport City Council to search for the buried drive, even offering them a cut of the Bitcoin's value. However, the council insisted that the drive, once in the landfill, became their property under existing laws. Following the ruling, Howells expressed his frustration, calling the outcome a "kick in the teeth" and lamenting that no one in authority would engage meaningfully with him.
Weekly Newsletter
News summary by melangenews