The story of James Howells and his $716 million Bitcoin wealth, buried in a Welsh landfill, has taken a new turn. His former partner, Halfina Eddy-Evans, has admitted that she threw away the hard disk containing 8,000 Bitcoins at Howells’ instruction.
The Hard Drive That VanishedIn 2013, Howells accidentally disposed of the hard disk while clearing out obsolete computer equipment. At the time, Bitcoin’s worth was minimal, and the potential fortune saved on the drive went undetected. Eddy-Evans claims she followed Howells’ advice to destroy “unwanted belongings” and now argues that the loss was not her responsibility.
When Howells discovered the flash drive’s value, Bitcoin had skyrocketed from less than $1 per token to a whopping $716 million. This revelation has resulted in years of frustration and legal fights.
Ongoing Struggles to Recover the Fortune. Determined to recoup the lost riches, Howells has repeatedly petitioned Newport City Council to enable excavation of the dump. However, the council has declined his demands, citing environmental concerns and logistical obstacles in sorting through 110,000 tons of rubbish.
In reaction to these failures, Howells sued Newport City Council for £495 million ($647 million) for refusing to enable the recovery operation.
Lessons on Cryptocurrency StorageThis anecdote emphasizes the significance of safely preserving digital assets. Relying on self-custody without adequate precautions can result in catastrophic losses. Whether using online wallets, app-based solutions, or hardware wallets (also known as “cold wallets”), it is critical to save private keys and recovery information offline to avoid theft or unintentional loss.
Experts advocate making numerous backups of recovery phrases and private keys and keeping them in secure locations such as safe deposit boxes or encrypted digital storage. These safeguards ensure that cash is accessible and secure even in unexpected circumstances.
James Howells’ story serves as a cautionary tale, highlighting the importance of adequate management and foresight while dealing with cryptocurrencies.
