The court dismissed the prisoner’s $354 million Bitcoin compensation case.

According to Mars Finance, the U.S. Court of Appeals rejected Florida man Michael Prime's attempt to recover over $354 million worth of Bitcoin on Tuesday, as reported by Decrypt. Prime claimed that these Bitcoins were stored on a hard drive that authorities destroyed in 2019 when he was arrested for forgery and identity theft. The court ruled that Prime waited too long to file his claim and that he had previously told investigators, probation officers, and judges that he hardly held any Crypto Assets, contradicting his later claim of owning “nearly 3,443 Bitcoins.” Federal agents ended their search for the Bitcoin based on his earlier statements and subsequently destroyed the equipment, including the orange hard drive in question. Prime was sentenced to over five years in prison in 2020.