He loses his fortune of $ 1.2 billion in bitcoins after throwing a hard drive by mistake

Twelve years after having accidentally throwing a hard drive containing 8000 bitcoins in a Newport dumping ground in Wales. However, a computer scientist abandons his quest to recover his fortune, in order to transform his lost tokens into a new cryptocurrency.

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James Howlls has permanently put his shovel. Similarly, The Welsh now put on the blockchain To monetize the history of its inaccessible bitcoins through a decentralized finance project called Ceiniog. Consequently, named after a former medieval Welsh currency.

From token to excavation

The Welsh computer scientist had undermined his bitcoins in 2013. For example, when each token was worth less than a dollar. Today, Bitcoin is worth $ 157,000 Canadian and the value of its buried treasure is $ 1.2 billion, reports Yahoo! Finance.

Still last May. at the Bitcoin 2025 conference in Las Vegas, Howlls presented his excavation project, claiming $ 75 million to “buy, he loses his fortune $ new operate and excavate the Newport dumping ground”. Its publication of May 28 proudly announced that “21% of [son] 8000 Bitcoins portfolio will be tokenized in LTT tokens ”.

But local authorities systematically rejected all of its proposals. Even its formal offer of more than 25 million pounds sterling to acquire the land was ignored by the. Newport municipal council.

“For more than 12 years. I tried everything to hire the municipal council: public proposals, percentages, mediation, legal action and a formal offer of 25 million pounds,” he wrote in his account X, in early August.

The blockchain escape

Frustrated by this bureaucratic impasse, Howlls first expressed his anger through a gif of the film Wall Street Wolf, Accompanied by the raging message “I’M NOT FUCKING LEAVING(I won’t leave, [juron]) and comment “They want me to give up, but …”.

His tone has since appeased, man now having a more entrepreneurial approach. “I no longer ask permission. I Tokenize the whole portfolio of 8000 bitcoins in 800 billion Ceiniog tokens with a 1: 1 Satoshi parity, “he said on August 4.

Alchemy of the inaccessible

The logic of Howlls establishes that its lost bitcoins are an underground “reserve”. The Ceiniog tokens will circulate in the web3 environment. the project will be built on Bitcoin, fueled by OP_Preturn, and will be integrated with stacks, runes and ordinal, for a launch scheduled for the end of 2025.

he loses his fortune $ new

The computer scientist anticipates that Ceiniog’s market capitalization will naturally reach US $ 923 million. positioning its creation as the 81^e More important cryptocurrency worldwide, according to CoinmarketCap.

After revenge, Hollywood

Despite the abandonment of his excavation efforts, Howlls did not finish with Newport. His production company Lebul transforms his history into media content, with docuseries and expected real -time coverage.

“You can block the doors. You can stuff the courts. But you cannot block the blockchain“, He has proclaimed since the beginning of August.

The adaptation rights were also sold to a production company in Los Angeles for a docusery entitled The Buried. Bitcoinconfirms Cointelegraph.

Experts realism

Harry Donelly, CEO of circuit, however tempers expectations: “There is very little chance of recovering the funds. The token will be negotiated on the narrative rather than a real value. It is better seen as the same than a real investment. ”

he loses his fortune $ new

This analysis underlines the Ceiniog challenge: to transform a legendary loss into tangible economic value. a daring bet in a crypto ecosystem, where speculation can sometimes challenge financial logic.