James Howells has shifted his focus from physically excavating his infamous lost Bitcoin to launching a blockchain-based DeFi project that symbolically vaults his hidden wealth.
The Long Road to Bitcoin Recovery
In 2013, Howells accidentally discarded a hard drive containing 8,000 BTC while cleaning his Newport office, initiating a 12-year quest for recovery.
Today, that stash is worth approximately $905 million, making it one of crypto’s most storied lost fortunes.
Despite legal battles and proposed solutions, authorities rejected his landfill excavation permit in March 2025, citing low success prospects.
As the UK Court of Appeal dismissed his bid, Howells expressed frustration but remained committed to his vision.
From Physical Search to Digital Innovation
Rather than pursue physically retrieving the coins, Howells plans to create a DeFi layer-2 network built on Bitcoin.
This token will not be backed by actual Bitcoin but will represent the idea of the lost coins—turning the landfill into a symbolic vault no one can open but everyone can see.
