An early crypto investor is filing a lawsuit in an attempt to recover a wallet containing $560 million in Bitcoin (BTC).
According to a new Daily Mail report, James Howells accidentally threw away 8,000 Bitcoin a decade ago but is now hoping a lawsuit could help him retrieve them.
His partner at the time reportedly threw away the hard drive containing his crypto assets after he placed it in a black trash bag.
After some research, Howells thinks that the hard drive is in a particular area in the South Wales landfill in the United Kingdom, known as the Newport Household Waste Recycling Centre. However, searching the area would require excavating 100,000 tons of rubbish buried under two hills, and the Newport Council, which oversees the landfill, has rejected his multiple requests to let him excavate the area.
The council reportedly says that the landfill can’t be disturbed due to strict environmental regulations. Howells even offered the council some of the Bitcoin proceeds if he found them.
Says the council,
“We have been contacted multiple times since 2013 about the possibility of retrieving a piece of IT hardware said to contain bitcoins, which may or may not be in our landfill site. The council has told Mr Howells multiple times that excavation is not possible under our environmental permit, and work of that nature would have a huge negative environmental impact on the surrounding area.”
Howells is now asking the High Court to let him search for it and he has the backing of hedge fund investors who would gain a share of any retrieved Bitcoin.
Says Howells,
“The council may be happy to leave that in a landfill but I’m not. They want me to go away and forget about it but how could anyone? Why should I back down? All I want is a chance to get my property back.”
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