A Newport man is seeking a staggering £495 million from Newport Council after accidentally discarding a hard drive containing the keys to his Bitcoin wallet. James Howells, 39, mined the 8,000 Bitcoins in the early days of the cryptocurrency and has watched their value soar since the loss in 2013.
Howells believes the hard drive is buried in a local landfill and has offered to fund a £10 million excavation at no cost to the council. In exchange, he would give the council 10% of the recovered Bitcoins.
Despite repeated attempts to engage with Newport Council, Howells has received little response. He argues that if the council had acted sooner, the city could have benefited significantly from the potential windfall.
The council claims ownership of the hard drive, stating that it was discarded property. However, Howells and his legal team contend that he never intended to abandon the device. The case is scheduled for a December hearing.
Whether Howells will be successful in his claim remains to be seen. However, the potential benefits for both him and Newport Council are significant. It is hoped that the council will reconsider its stance and work with Howells to explore this opportunity.