Investor who lost 8000 BTC in a landfill sued local authorities
Date: 2023-09-11 Author: Karina Ziganova Categories: IN WORLD
Crypto investor James Howells, who lost a disk containing 8,000 BTC in a city dump, has sued Newport Local Council in South Wales. He said that the authorities prohibit him from carrying out excavations, the Telegraph writes.
In 2013, computer engineer Howells accidentally dumped a hard drive containing 8,000 BTC (approximately $205.8 million at the time of writing). He managed to find sponsors to buy Boston Dynamics robot dogs, cameras and equipment needed to find the device.
However, Howells faced a problem - the city of Newport in South Wales refused a request for excavations, citing environmental risks and a number of other reasons. For ten years, the investor has not received permission to search.
In September 2023, James Howells' lawyers wrote an open letter to officials asking that their client be given access to the city landfill and the necessary documents for excavation. In addition, the crypto investor demanded damages in the amount of $557 million.
“For ten years I tried everything I could. After numerous refusals, I decided to go to court,” Howells said.
Legal documents note that Howells is willing to cover the cost of the excavation and make donations to the community. Let us remind you that the cost of a complete excavation lasting three years was estimated at $11 million. The investor also proposed an accelerated search option, which would cost $6 million.
The council has repeatedly advised that excavation at the landfill is not possible as it violates environmental regulations. According to local authorities, they will have a negative impact on the environment.
