#UK court halts treasure hunt plan#

60
2
Posts
Hot Topic Details

Hot Topic Overview

Overview

A UK court has rejected IT engineer James Howells' application to search a landfill for a hard drive containing $735 million worth of Bitcoin. Howells accidentally discarded the hard drive containing the Bitcoin in 2013 and has been trying to persuade Newport City Council to allow him access to the landfill to dig for it. However, the court ruled that the plan posed significant environmental risks and had "no realistic prospect of success" at trial, thus rejecting his application.

Ace Hot Topic Analysis

小 A

Analysis

A UK court has rejected IT engineer James Howells' application to search a Newport landfill for a hard drive containing $735 million worth of Bitcoin. Howells accidentally discarded the hard drive containing the Bitcoin in 2013 and has been trying to persuade Newport City Council to allow him access to the landfill to dig. However, Judge Keyser KC ruled that the digging operation would pose significant environmental risks and that there was "no realistic prospect of success" at trial. The court's ruling means Howells will be unable to recover his Bitcoin by digging through the landfill, a huge loss for him. While Howells only spent a few cents to mine these Bitcoins in 2009, their value has now skyrocketed to hundreds of millions of dollars. The incident has also raised concerns about the security of digital assets, reminding people to be extra cautious when storing and managing them.

Related Currencies

Public Sentiment

0%
100%

Discussion Word Cloud

Classic Views

Finding Bitcoin hard drives poses environmental risks, the court believes the plan is not feasible

1

Newport City Council refused to enter the landfill, the court believes the case has no realistic chance of success

2

The plan to find Bitcoin hard drives poses legal risks, the court dismissed the application

3

The cost of finding Bitcoin hard drives is too high, the return is not proportional to the risk

4