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Breaking News: Major Win For Memecoins: SEC Affirms They Typically Do Not Qualify As Securities

Remember That Guy That Lost A Flashdrive With 8,000 BTC? Here’s What He’s Up To Now

Scott Matherson
Scott Matherson
1 year ago
3 mins read
8,000 BTC

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James Howells, a Welsh Bitcoin investor and the man who inadvertently lost $557 million worth of BTC in a flash drive is seeking to file a lawsuit against Newport City Council (NCC) in the United Kingdom for refusing his requests to excavate the area he presumed he misplaced the hard drive. 

Howells Threatens Legal Action Against NCC

After 10 years of searching for the elusive flash drive carrying a fortune of 8,000 BTC, Howells has taken an aggressive approach to his hunt and threatened the NCC with proper legal action that may see the council firmly bankrupt if the court rules in favor of Howells.

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The NCC is a single-tier unitary authority that oversees the administration of all areas in Newport, one of the principal areas in Wales. Howells has been in contact with the council over the years, requesting permission to undergo a landfill excavation in the area that supposedly harbors the flash drive. 

Howells claims that he has raised sufficient funds to propel the excavation work and only needed the council to give the go-ahead. However, the NCC has been adamant about its rejection despite Howells’ funding claims. 

The council has consistently declined Howells’ requests for a landfill excavation, with reasons of environmental concerns and prioritizing working officers’ time who ensure the safety and well-being of Newport residents. 

“In the current environment, we cannot justify wasting officers’ valuable time providing services to the residents of Newport,” a council spokesperson stated. 

In response to the multiple rejections, Howells has stated that he would sue the council for damages worth $557 million. He has submitted a letter to the council, demanding a concession to perform a landfill excavation on Monday, September 18. 

Following a failure to adhere to the ultimatum, Howells has requested a judicial review to evaluate the legitimacy of the council’s judgment to reject his Bitcoin recovery efforts.

Bitcoin price chart from Tradingview.com (8,000 BTC)

Bitcoin price struggles below $26,000 | Source: BTCUSD on Tradingview.com

NCC Can Keep 10% Of Recovered BTC

In an attempt to influence the decision of the NCC regarding the landfill excavation work, Howells has promised to deliver 10% of the total Bitcoin funds recovered. He has stated that he will use the funds to transform Newport into a “crypto-mecha.” 

The Welsh crypto investor also offered to provide 50 Euros to all Newport residents and facilitate the implementation of crypto terminals in local shops. 

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Howells has been vigorously trying to recover his 8,000 BTC since 2013. With Bitcoin’s price over 1,000 times the value it was in 2013, the Welsh investor is desperate to locate the flash drive containing his potential fortune. 

He has expressed his frustration and determination with the NCC’s rejections, stating “I’ve tried everything possible for 10 years; they didn’t want to play ball, so now we have to take the legal route.”

Featured image from Medium, chart from Tradingview.com
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Scott Matherson
Scott Matherson

Scott Matherson

Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.

Read more

Scott’s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott’s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life.

With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others.

Scott’s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott’s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry.

Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors.
In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else.

Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies.

Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.

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