Italian divers are reportedly racing to retrieve Mike Lynchs stashed hard-drives from the wreck of the Bayesian superyacht before foreign intelligence services can get their hands on them.
Seven people were killed when the Bayesian, a £30million superyacht owned by the Darktrace founder, sank last month in just 16 minutes after it was hit by a violent downburst.
Mr Lynch, 59, and his 18-year-old daughter lost their lives alongside Morgan Stanley International president Jonathan Bloomer and his wife Judith, as well a New York lawyer Chris Morvillo and his partner Neda and of the chef Recaldo Thomas.
No personal items have yet been recovered from the shipwreck, according to investigators from Palermo.
But The Telegraph reported Italian special force divers have allegedly brought up crucial video equipment which could explain how the Bayesian sank.
Mike Lynch (pictured) who was killed alongside his daughter when the Bayesian sank last month
Italian divers are reportedly racing to retrieve Mike Lynchs stashed hard-drives from the wreck of the superyacht
According to the Italian newspaper La Repubblica, Mr Lynch kept two encrypted hard-drives in a safe because he did not trust the cloud with controversial documents.
The media outlet also reported some of his clients included MI5, the US National Security Agency and the Israeli secret service.
Sources close to Mr Lynchs family have suggested there was no evidence he had access to intelligence material.
Mr Lynch co-founded the cybersecurity company Darktrace, which employed intelligence officers, which has prompted speculation that the company still had ties to spying agencies.
However, Mr Lynch had not been involved in the running of the company for several years, The Telegraph reported.
Mr Lynch, 59, and his 18-year-old daughter lost their lives when the yacht sank in a storm
Rescue personnel pictured as they prepare to resume inspections of the Bayesian yachts wreck on August 23
Post-mortem examinations were carried out on the victims over recent days in Sicily, with preliminary results suggesting all but one had been trapped below deck when they died.
Fifteen of the 22 passengers and crew survived the wrecking of Bayesian last month by clambering on to an inflatable life raft.
Autopsies carried out on victims at Palermos Policlinico hospital earlier this month revealed that they had no water in their lungs, Italian media reported, adding to fears that they may have been conscious as the yacht sank.
While their bodies have now been returned home, doctors in Palermo are continuing to investigate whether their deaths were caused by drowning or lack of oxygen in the cabin.
All the victims in the disaster were passengers except for the yachts chef Recaldo Thomas.