US Court Dismisses $350 Million Bitcoin Damages Suit

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author: CryptoNews

date: November 06, 2025

1 min. read

A US court has dismissed a lawsuit seeking $350.4 million in damages from the government related to lost Bitcoin, as reported by Decrypt. The plaintiff, Michael Prime, claimed his confiscated hard drive contained the cryptocurrency. Prime was arrested in 2019 on forgery and identity theft charges, leading to the seizure of his hard drive. Crucially, he repeatedly told authorities that the drive contained no cryptocurrencies. Based on this, the hard drive was disposed of. After completing his sentence, Prime reversed his stance, claiming the drive held significant Bitcoin holdings and filing the lawsuit. The court found no evidence to support his revised claim and upheld the disposal, dismissing the case. This ruling highlights the importance of accurate and consistent statements during investigations. ```