Ex-partner dumps $716m bitcoin wallet, says ‘we’re tired of hearing about it’
James Howells and his $716 million (£569 million) bitcoin fortune, which disappeared in a Welsh landfill a decade ago, has taken a new turn.
Howells' former partner Halfina Eddy-Evans revealed that she threw away the hard drive containing 8,000 Bitcoin (BTC) at Howells' request.
In an interview with the Daily Mail, Edie-Evans said she threw away the hard drive because Howells asked her to, and said: “It's not her fault. [her] wrong”
Howells' story illustrates the risks involved in holding digital assets such as cryptocurrencies and why proper management is key to mitigating financial losses.
Related: British Man Sues Council for $647M in Bitcoin Lost in Trash
A hard drive to find
In the year In 2013, Howells accidentally removed a hard drive while cleaning out old computer parts. At the time, the value of Bitcoin was much lower than it is today, and the potential wealth in the drive went unnoticed.
According to Howell's ex-partner, she took the hard drive to the landfill after being asked to take out “unwanted items.”
Howells realized he had mined 8,000 bitcoins in 2009, when BTC was worth less than $1 per token. Today, the price of the cryptocurrency soared, with lost assets exceeding $716 million.
RELATED: From Dumpster to Lawsuit: James Howells' Quest to Recover Lost Bitcoin
Howls legal and environmental barriers
After discovering the missing property on the hard drive, Howells made several appeals to Newport City Council to be allowed to dig up the dumpster, but they were turned down.
Newport City Council cited environmental risks and logistical challenges associated with digging up 110,000 tonnes of waste.
Howells was undaunted by the refusal after proposing $11 million to find the money and pledging to donate 10% of the proceeds to the council to personally finance the excavation. But the council says its environmental permit does not allow such practice.
The IT engineer sued Newport City Council for £495 million (about $647 million) after the council rejected his request.
Related: What Happens to Lost Bitcoin?
An education in cryptocurrency protection
The case highlights the importance of secure storage, and Eddy-Evans' comments highlight the risks of self-preservation for cryptocurrency holders. It's important to plan ahead when considering adoption to make sure funds are safe, accessible and not at risk of being lost – or dumped by an ex-partner.
When transferring money online or using an app-based crypto wallet or hardware wallet — often called a “cold wallet” — it's important to store private keys and recovery options offline to reduce the risk of online hacks.
Storing multiple recovery phrases and private keys in multiple secure locations, such as safe deposit boxes or encrypted digital storage, can help keep funds safe and prevent financial losses.
Magazine: Crypto has 4 years to grow so big ‘no one can shut it down': Cain Warwick, Infinex
