He Lost $700 Million Because of One Simple Mistake—Could You?

Can you imagine accidentally throwing away $700 million?

It sounds like something out of a Hollywood script, but for James Howells—a computer engineer from Wales—it’s a real-life nightmare. Over a decade ago, during what seemed like a routine office clean-up, Howells mistakenly tossed out a hard drive. Unfortunately, that particular drive held the private key to 8,000 Bitcoin he had mined years earlier.

By the time he realized what had happened, Bitcoin had surged in value. At today’s prices, those 8,000 BTC are worth around $700 million—and at Bitcoin’s all-time high, they were worth even more. Some predict that one day, that lost digital fortune could exceed $1 billion.

Despite tireless efforts—including legal battles, landfill excavation proposals, and offers to share a portion of the recovered wealth with his city—Howells remains empty-handed. Courts have shut him down, and local officials refuse to grant him access to the landfill where the hard drive might still be buried. Most recently, he announced plans to take his fight to the European Court of Human Rights.

While most of us won’t lose a billion-dollar asset, Howells’ story teaches a critical lesson: if you don’t know what you own, where it is, or how to access it, it could be lost forever. And when it comes to digital assets in particular, that loss can be permanent.

Why Asset Inventories Matter in the Digital Age

Even without a Bitcoin windfall, many of us own digital and financial assets that are easy to overlook or forget:

• Cryptocurrency in various digital wallets

• Frequent flyer miles and rewards accounts

• Online bank and investment accounts

• Cloud-stored documents and family photos

• Employer-based insurance policies and benefits

• Valuable collectibles or family heirlooms

These assets might not be as high-stakes as a Bitcoin fortune, but they still hold significant value, both financially and emotionally. The question is: Are you keeping track of everything?

If someone like Howells can lose track of something so valuable while still alive and alert, it’s easy to see how things can slip through the cracks after someone passes away. Without a clear, current inventory, your family may not even know what to look for, let alone how to find it.

The Real Cost of Missing Assets

In the U.S. alone, over $60 billion in known assets are currently classified as “unclaimed.” That doesn’t even include the countless digital assets that are lost because no one knew they existed in the first place.

When there’s no record of what you own, the consequences can include:

• Accounts and policies being lost or turned over to the state

• Lengthy, costly probate proceedings

• Frustration and confusion for your loved ones

• Password-protected digital assets that no one can access

• Emotional loss when cherished keepsakes disappear

Whether the asset ends up in a landfill or on your state’s unclaimed property list, the result is the same: your family loses out.

Estate Planning That Goes Beyond Legal Documents

Most estate plans are created using a set-it-and-forget-it approach: you get a will, powers of attorney, and maybe a trust—then stash them away in a drawer, hoping they’ll do the job when the time comes.

But that outdated model often leads to unintended consequences like court battles, lost assets, and broken relationships.

That’s why my approach is different.

Through my exclusive Life & Legacy Planning process, I don’t just create documents—I help you build a comprehensive, working plan that reflects your life and legacy. A key piece of that is a complete asset inventory, so nothing falls through the cracks.

Here’s what sets my planning process apart:

What Makes Life & Legacy Planning Different

✓ Personal Resource Map

We start by organizing a detailed inventory of everything you own—from real estate and retirement accounts to digital assets and heirlooms. This ensures your family knows exactly what’s there and how to access it.

✓ Ongoing Reviews

Life doesn’t stand still, and your plan shouldn’t either. I offer regular reviews so your asset inventory and documents stay up to date as things change.

✓ Clear Communication for Your Loved Ones

I guide you in sharing what’s necessary with those you trust, and I’ll be there for them when the time comes, so they’re not left guessing.

Peace of Mind Starts with a Plan

James Howells’ story is an extreme cautionary tale, but the message is clear: if your assets aren’t properly tracked, they can be lost forever. That’s why I offer a Life & Legacy Planning Session to help you get more financially organized than ever before, while making sure everything you own—and everything that matters to you—is protected and accounted for.

This article is a service of the Law Office of Keoni Souza, an estate planning law firm in Honolulu, Hawai`i. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That is why we offer a Family Wealth Planning Session, during which you will get more financially organized than you have ever been before and make all the best choices for the people you love. You can begin by contacting our office today to schedule a planning session and mention this article to find out how to get this $750 session at no charge.

Disclaimer: All information on this website is for informational purposes only and is not legal advice. You should contact an attorney trained to work with families on estate planning matters regarding your specific situation. Use of and access to this website or any of the email links contained within the site do not create an attorney-client relationship between the Law Office of Keoni Souza, LLC, and any users or any other party.