A landfill hiding £1.5bn worth of Bitcoin is guarded 24 hours a day with a network of video cameras to keep away metal detectorists hoping to get lucky.
Early cryptocurrency investor James Howells, 38, made the calamitous mistake of accidentally throwing away 8,000 Bitcoins ten years ago and is now launching a legal fight to get them back.
A misunderstanding led to his partner throwing away the only hard drive containing access to his crypto assets, whose value has now soared to over £450 million, as he had been temporarily storing it in a black rubbish bag.
Since then, a distraught James has been trying to recover the disc from the municipal landfill and has narrowed the potential search to an area that would mean excavating 100,000 tonnes of rubbish buried beneath the grassy hills.
However, a A strict security cordon has been put in place at the household waste recycling center in Newport, south Wales, after the council refused permission.
Computer expert James Howells (pictured), 38, who accidentally squandered his fortune on Bitcoin, has seen its value soar to over £450m.
Here’s a look at the landfill hiding a whopping £1.5 billion worth of Bitcoin
A general view of the Newport waste and recycling landfill, where James Howells believes the hard drive is.
Security guards are on duty 24 hours a day in case treasure hunters arrive with metal detectors.
A recycling center worker told Mail Online: “There is 24-hour security – everyone who works here knows what is supposed to be buried in the landfill under the hills.”
‘But the other problem is: where would they start looking? The two small hills cover several acres, they would never be found.
‘The owner has visited the site many times; If he is here, he is under one of those two hills in the distance.
“He is adamant, but no one can know for sure if he is here; some of the things that arrive are sent to incinerators.”
‘Even if the council gave permission, it would be like looking for a needle in a haystack. It would be impossible.
Unless the computer has some type of locator device, there is no way. The boy should forget about it and move on.
The latest explosion in Bitcoin’s value means that if James still had his haul, it would be worth £451,765,891, putting him on the super-rich list alongside Hollywood star George Clooney, musician Sting and author Stephen King.
The landfill is owned and managed by Newport Council, which has an annual budget of £537.3 million. If Bitcoins continue to skyrocket at the same rate, James’ lost fortune could be worth three times that amount by the end of the year.
James has offered the cash-strapped council a sizeable chunk of the money if they allow him and a team of experts to begin investigating.
But the city council claims that the landfill where the hard drive is buried cannot be touched due to strict environmental regulations.
Still, some workers at the site believe James should be given a chance. One said: “If she has an idea where she might be, then she should be allowed to search for her.”
‘At the end of the day it is your property, if it can be returned, why not?’
The recycling and waste dump is across the street from a busy shopping park where shoppers feel sympathy for James and his missing millions.
Kelly Bathurst, 34, a pregnant mother of three, said: “The council should have accepted their offer to split the money.”
‘I’m waiting for a municipal house, but the city council says it has run out of money. They could have had a few million to build housing that the city desperately needs.’
James photographed outside the recycling center in Newport, Gwent in Wales
James has started a legal fight against Newport City Council to recover his hard drive
A look at the house James lives in, which is a £180,000 terraced house in Newport
Jordan Williams, 39, of Newport, a father of two, said: “It must be like drawing all six numbers in the lottery and then realizing you forgot to buy a ticket.”
‘If it’s true, I feel sorry for the guy. She must be thinking that she should live on a luxury yacht in the Bahamas.
James lives in a £180,000 shingle terraced house in Newport and it is from there that he is planning his next move against Newport Council.
He said: “Unfortunately, at this time it does not appear that they want to cooperate and work together, which will ultimately lead us to commence legal proceedings against them in the near future.”
‘Some experts believe that by the end of the year the price will rise to $25,000 per coin. That would make my hard drive worth £1.5bn. The council may be willing to leave that in a landfill, but I’m not.
‘They want me to go away and forget it, but how could anyone? Why should I turn back? All I want is a chance to get my property back.’
James last saw the hard drive 10 years ago, when he was cleaning his house.
He was going to take the trash to the landfill the next day and went to bed with the nagging feeling that something was wrong.
When he woke up, his partner had put the garbage bags in his car and taken them to the landfill, thinking he was doing him a favor.
James has spent every waking moment trying to recover the hard drive and is backed by a team of hedge fund investors who will take a cut of the value if bitcoin successfully recovers.
The landfill is owned and managed by Newport Council, which has an annual budget of £537.3 million.
Workers at the recycling center said they think James “should forget about this and move on.”
Many have compared attempts to find the hard drive to finding a needle in a haystack.
He also hopes to use AI to find buried hardware if he ever gets permission to excavate the site.
Speaking previously about how he envisages any search to work, he said: “I have assembled a full consortium of experts in the field to refute all the claims the council has said it is concerned about.”
‘I have spoken to data recovery experts who worked with NASA on the Columbia space shuttle disaster.
“They were able to recover from a ferry that exploded and they don’t seem to think that being in a landfill will be a problem.”
Newport Council said: “We have been contacted several times since 2013 about the possibility of recovering a piece of IT hardware said to contain bitcoin, which may or may not be at our landfill.”
‘Mr Howells has been told several times by the council that excavation is not possible with our environmental permit, and that work of that nature would have a huge negative environmental impact on the surrounding area.
‘We have been very clear and consistent in our responses that we cannot assist Mr Howells in this matter. Our position has not changed. We will not be offering any further comment on this issue as it consumes valuable officer time that could be spent providing services to the residents of Newport.’