Bitcoin‘s tales from the past continue to surface one after another. An early crypto investor who made a small investment and then turned it into a large profit is initiating a lawsuit to recover a wallet containing 560 million dollars worth of Bitcoin (BTC).
Investor’s Effort to Access His Bitcoins
According to a report by Daily Mail, a person named James Howells mistakenly threw away 7,500 Bitcoins about ten years ago but now believes that a lawsuit could play a significant role in recovering them.
The individual, who claims that his partner disposed of the hard drive containing their crypto assets in a black garbage bag about 10 years ago, is preparing for a new legal battle.
While conducting research on the matter, Howells believes that the hard drive is located in a specific area of the South Wales landfill site, also known as the Newport Domestic Waste Recycling Centre in the United Kingdom.
Is It Possible to Retrieve the Bitcoins?
Even if this area is correct, excavating 100,000 tons of garbage beneath two mounds is required to search the region, and the Newport administration, which oversees the landfill, has repeatedly rejected Howells’ many requests to allow a dig.
The council has responded that the landfill cannot be disturbed due to strict environmental regulations. Howells has offered the council a share of the earnings if he finds the Bitcoin.
The council says:
Since 2013, we have been contacted numerous times about the possibility of retrieving a piece of IT hardware, which may or may not be located at our landfill site and is said to contain Bitcoin. The municipality has repeatedly told Mr. Howells that it is not possible to excavate under our environmental permit and that such an operation would have a significant negative environmental impact.
Howells has taken the matter to a new level and is waiting for approval from the High Court to conduct a search. Support is also growing from hedge fund investors who would get a share of the Bitcoins if found.
Howells said about the matter:
The municipality may be happy to leave it in the landfill, but I am not. They want me to walk away and forget about it, but how can anyone do that? Why should I back down? All I want is a chance to retrieve my property.
