A U.S. court has dismissed the lawsuit of Michael Prime, a cryptocurrency enthusiast, who alleged that the FBI deleted a hard drive containing 3,400 Bitcoin ( worth over 345 million USD). Prime, who had previously been convicted of identity theft, stated that the device was confiscated when he was arrested and was subsequently wiped by the agency. After being released from prison in 2022, he requested the return of the hard drive, but the FBI stated that they were just following standard procedure.
The court ruled that Prime could not sue because he had previously denied owning this amount of Bitcoin and only later declared himself a “Bitcoin millionaire.” Records show that he once claimed to own less than 1,500 USD worth of Bitcoin. The judge stated that compensation would be unfair. According to Glassnode, there are currently about 1.46 million Bitcoin permanently lost.
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