cryptojournalist
The Lost Bitcoin Fortune
James Howells, an IT engineer, accidentally lost a hard drive containing 8,000 Bitcoin in a Welsh landfill back in 2013. Now worth $716 million, the Bitcoin was mined in 2009 when its value was less than $1 per token.
The Tossed Hard Drive
Howells’ former partner, Halfina Eddy-Evans, recently claimed she threw out the hard drive at his request. In an interview, she stated, “Losing it wasn’t my fault,” adding that he asked her to dispose of his “unwanted belongings.”
Legal Battles and Excavation Denials
Since discovering the loss, Howells has repeatedly asked Newport City Council for permission to excavate the landfill, which contains 110,000 tons of waste. The council has refused, citing environmental and logistical concerns.
Despite these rejections, Howells proposed an $11 million plan to privately fund the excavation and offered 10% of the recovered funds to the council. However, the council maintains its license doesn’t allow such operations. Frustrated, Howells is suing the council for £495 million ($647 million) in damages.
Lessons in Crypto Security
The story underscores the risks of self-custody for cryptocurrency holders. Safeguarding digital assets requires proper planning and secure storage.
Using hardware wallets (cold wallets) and keeping private keys* offline in multiple secure locations, such as safe deposit boxes, can prevent losses. Additionally, storing recovery phrases securely can protect assets from being lost or discarded.
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