Judge Keyser KC dismissed the lawsuit against the Newport City Council, bringing a final conclusion to one of the most expensive mistakes in cryptocurrency history.
A Lost Treasure in the Landfill
The story dates back to 2013, when Howells accidentally discarded a hard drive containing the key to 8,000 bitcoins. The mistake occurred due to the mix-up of two hard drives—one was empty and meant for disposal, while the other held an immense fortune. According to Howells, his then-girlfriend unknowingly took the garbage bags, including the valuable hard drive, to the landfill.
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Why the Drive Can’t Be Retrieved
The Newport City Council argued that retrieving the hard drive posed significant environmental and safety risks. The landfill contains over 350,000 tons of waste, with an additional 50,000 tons added each year. Excavating the site could lead to the release of harmful substances, and disrupting landfill operations would violate licensing conditions.
Legal considerations also played a role. A 1974 British law stipulates that all waste at the landfill becomes the property of the landfill operator. Additionally, Howells filed his lawsuit in 2024, more than a decade after the incident, exceeding the six-year statute of limitations.
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Howells’ Fight for Justice
“This verdict has taken everything from me,” said a disappointed Howells following the court’s decision. He insists that greed was not his primary motivation but rather a desire to share the wealth with the community. He had offered to donate a quarter of the bitcoins’ value to local residents and had prepared a detailed plan for safely excavating the hard drive with the help of an expert team.
Despite the dismissal, Howells remains convinced that the data can still be recovered. The drive is believed to be located within an area of approximately 2,000 square meters, buried under 10,000 to 15,000 tons of waste. Howells claims his team developed a plan that would minimize the risks involved.
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Cryptocurrencies as a Warning
The value of bitcoins has risen dramatically since they were mined in 2009. While their worth was negligible at the time, a single bitcoin now trades at around $90,000. Howells estimates that by next year, the lost bitcoins could be worth as much as $1 billion.
The Howells case serves as a stark warning for cryptocurrency owners: safeguarding access keys is paramount. For Newport City Council, however, the decision was a matter of prioritizing environmental protection over financial gains. The council’s legal representative, James Goudie KC, described Howells’ offer as an attempt to push the city into a risky venture in exchange for a share of the profits, which the council ultimately rejected.
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This case will go down in history as an example of the far-reaching consequences of digital mistakes in the cryptocurrency age.
