James Howells, the Welsh software engineer who accidentally lost a hard drive containing 8,000 Bitcoin in 2013, is shifting strategies after years of failed attempts to recover it. The drive, buried in a Newport landfill, holds a fortune worth around $913 million at current prices and nearly $985 million at Bitcoin’s all-time high.
Howells has repeatedly tried to secure permission from Newport City Council to excavate the site, offering over $30 million and exploring legal avenues. The council has consistently refused, citing environmental and logistical risks.
Frustrated by the lack of progress, Howells announced on X that he is “done asking permission” and will instead tokenize the wallet. His plan involves creating 800 billion Ceiniog Coin (INI), a Bitcoin Layer 2 token linked to blockchain technologies like Stacks, Runes, and Ordinals.
He told The Block that the project aims to power a fast, scalable, payment-focused web3 platform backed by the 8,000 BTC and secured by the Bitcoin blockchain.
The saga began when his ex-girlfriend mistakenly threw away the drive, leading to over a decade of legal battles, public campaigns, and even appeals for help from President Donald Trump. Despite the setbacks, Howells says he is not giving up on reclaiming his fortune.
2.37K
0
The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.