Man sues city over $500M Bitcoin lost in landfill dispute

James Howells, an IT engineer from Newport, Wales, has filed a lawsuit against Newport City Council after a decade-long effort to recover a hard drive containing 7,500 bitcoins (CRYPTO:BTC), now valued at nearly $500 million.

The hard drive was mistakenly discarded in a landfill in 2013, and despite numerous requests, the council has repeatedly refused excavation due to environmental concerns.

Howells, who claims the data on the hard drive is recoverable, has assembled a team of experts, including the former head of the council’s landfill, to back his efforts.

Court documents reveal Howells is seeking £495 million ($647 million) in damages, reflecting the peak value of the lost Bitcoin earlier this year.

The situation began in 2013 when Howells accidentally threw away the hard drive, which, at the time, held Bitcoin worth less than £1 million.

Since then, the value of Bitcoin has surged, leading Howells to dedicate his time and resources to recovering the lost funds.

He has even secured investors to finance a £10 million excavation project, offering to conduct the search at no cost to the council.

In his lawsuit, Howells has proposed giving Newport City Council 10% of the recovered Bitcoin’s value.

He stated, "That would be £41 million at today’s rate, but it could be worth hundreds of millions in the future."

Despite this offer, the council remains firm in its refusal, citing environmental risks involved in digging up the landfill.

Howells remains determined, estimating an 80% chance of recovering the hard drive.

"Until the court says 'no,' I will continue trying to recover it," he said, acknowledging the financial strain of his efforts but reaffirming his commitment to retrieving the lost Bitcoin.

At the time of writing, the Bitcoin price was $62,644.53.