In the world of cryptocurrencies, few stories embody irony and heartbreak like that of James Howells, a Briton who accidentally lost 7,500 bitcoins in 2013. What was then a modest sum, valued at a few million dollars, today represents a fortune of more than $750 million in 2025, with Bitcoin topping $100,000. His drama, born from an everyday mistake, is a reminder of the relentless security of cryptocurrencies: without the private key, there is no access, and there is no turning back.
A fatal error in the trash
Howells, an IT specialist from Newport, Wales, mined those 7,500 bitcoins in 2009, when the cryptocurrency was just taking off and few understood its potential. He stored his private key — the unique password that unlocks a digital wallet — on a hard drive that he stored alongside an empty one. In 2013, during a cleanup, his partner mistakenly threw the wrong drive in the trash. The black bags ended up in a local landfill, and with them went his access to the bitcoins.
By the time Howells realized the disaster, it was too late. The Newport landfill had received tons of waste, burying the disk under layers of trash. At the time, his bitcoins were worth about $7.5 million, a painful but imaginable loss. Today, with the price of Bitcoin skyrocketing, the magnitude of the mishap is astronomical, turning his story into a modern tragedy.
A fight against time and bureaucracy
Since then, Howells has waged a battle to recover his treasure. He has offered the City of Newport up to 25% of the value of the bitcoins — more than $180 million — to fund a massive excavation of the landfill. His plan includes advanced technology and recovery experts, but authorities have rejected it. They argue that disturbing the site would violate environmental regulations and that there is no guarantee that the disk will be found after more than a decade underground.
In 2024, Howells took his case to the British courts, demanding permission to search or equivalent compensation. However, in January 2025, a judge ruled against him, ruling that he has no legal rights to the lost disk and no real chance of success. The verdict closed the door on his dream, leaving his bitcoins an unattainable digital spectre.
The cost of decentralization
Howells’ story illustrates the sharp edge of Bitcoin’s decentralization. With no banks or middlemen, the private key is the only key; losing it means losing everything. An estimated 3-4 million bitcoins are trapped in inaccessible wallets, 20% of the total issued, according to Chainalysis. For Howells, the security that makes Bitcoin revolutionary became its downfall.
A drama that resonates
At 39, Howells lives with the burden of what could have been. His case has inspired debates about the usability of cryptocurrencies and the need for better backup methods. While some see it as a cautionary tale, others admire his persistence. In 2025, his 7,500 bitcoins remain intact on the blockchain, a visible but untouchable treasure, encapsulating a drama that mixes human error, inflexible technology and a landfill holding millions.
