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A man’s ten-year battle to regain his own A £600 million bitcoin fortune (almost $750 million) was stopped by the judge.
James Howells, 39, launched the legal case after he lost his Bitcoin hard drive in a landfill in 2013 in Newport, Wales. the BBC announced.
After his accident, Howells offered to fully fund the mining process and share 25% of the Bitcoin found with Newport City Council.
However, the city rejected his request, starting a decade-long saga of trying to recover his lost cryptocurrency.
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Bitcoin, the world’s largest cryptocurrency, has seen an increase in value since the American elections, reaching $89,637 at 8 a.m. this morning. (Photo illustration by Chesnot/Getty Images/Getty Images)
On Thursday, the paper reported, the Commercial District Judge for Wales, Judge Keyser, dismissed Howells’ claim seeking permission to excavate.
In his ruling, Keyser said Howells had “no reasonable basis” to file the lawsuit and that there was no “realistic prospect” of success if the case proceeded full trial.
“I find that the particulars of claim do not demonstrate any reasonable basis for bringing this case. I also find that the claim would have no realistic prospect of success if it went to trial and that there is no other compelling reason why it should be resolved at trial,” he said. .
Displays of cryptocurrencies are seen in this photo illustration taken in Krakow, Poland, on November 14, 2022. (Jakub Porzycki/NurPhoto via Getty Images / Getty Images)
The judge said he accepted the council’s argument that he possessed hard disk and Howells had no right to that.
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“According to my judgement, the defendant’s [the council’s] the argument is correct and provides a complete answer to the claims,” he said.
A display of bitcoins can be seen in an illustration taken on June 23, 2017. (Benoit Tessier/File Photo/Reuters Photos)
Howells told the British paper he was “very upset” by the verdict, saying it felt like a “kick in the teeth”.
“Dismissing the case at the earliest hearing does not even give me a chance to explain myself or a chance for justice in any form,” he said. “There was so much more that could have been explained in the whole trial and I expected that.”
He added that he had “over the last 12 years tried to work with Newport City Council in every way humanly possible”.
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“It’s not about greed, I’m happy to share the profits, but nobody in a position of power will talk to me politely,” he said.
“Everything was taken from me with this verdict, and I was left with nothing,” he said. “It is great british the system of injustice strikes again.”
