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Lost Bitcoin Worth £1.5B Leads to Court Case

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Sun, 17/03/2024 - 18:28
Lost Bitcoin Worth £1.5B Leads to Court Case
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James Howells, a 38-year-old IT expert, has initiated a legal battle to recover a hard drive containing Bitcoin now valued at approximately £1.5 billion, according to The Daily Mail. Howells has been trying to recover the stolen funds for roughly a decade.   

A decade-long quest 

Howells' ordeal began with a simple yet fateful cleaning mishap ten years ago, leading to an unimaginable loss. 

Unfortunately, this bag was mistaken for trash, and without realizing the crucial mistake, his partner disposed of it at a local council landfill. 

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This hard drive wasn't just any piece of hardware; it contained the private keys to access 8,000 Bitcoins, an asset that, over the years, has ballooned in value to a staggering £1.5 billion. 

The realization of this mistake set off a decade-long quest to recover the digital treasure now buried under tons of waste.

The path forward 

The legal confrontation has escalated to the High Court, where Howells seeks access to the dump and argues for the recovery of his property. 

His legal and recovery team, funded by hedge fund investors eyeing a share of the potential recovery, includes search experts and data recovery engineers. 

These professionals are optimistic about their ability to recover and restore the hard drive, even after years in a landfill. 

The team has challenged the council's concerns, drawing on precedents of successful data recovery in extreme conditions.

Despite Howells' offer to share the proceeds from the recovered Bitcoin with the financially struggling council, his requests have been rebuffed.

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