Analysts at BitMEX Research have raised the alarm about a scam targeting early Bitcoin holders, particularly those with wallets dating back to 2011.
According to the firm, the scam appears to exploit long-dormant addresses by injecting false transactions and misleading messages via OP_Return outputs, an optional field in Bitcoin transactions that can carry arbitrary data.
In one documented case, the scammers targeted the well-known “1Feex” wallet, which holds around 80,000 BTC believed to have been stolen from Mt. Gox. The attackers crafted a message that links victims to a fraudulent website impersonating the defunct Wall Street firm Salomon Brothers.
The fake site presents a legal notice claiming the wallet is “lost or abandoned.” It then invites supposed owners to prove their claim by signing an on-chain message using the private key or submitting personal documentation through a web contact form. If no response is received by Oct. 5, the notice states, the wallet will be deemed legally abandoned.
Fake legal claims
BitMEX warned that the website shows no credible link to the real Salomon Brothers or its former leadership. While the site displays a list of real individuals who once worked at the firm, none appear to be associated with this new and likely fraudulent entity.
The platform described the approach as reminiscent of an earlier scam associated with controversial figures like Calvin Ayre, who previously funded legal action involving the same Bitcoin address.
BitMEX Research stated:
“The links between this company and this website are fake. There is a page with an “advisory board” that contains real people who worked at Salomon Brothers in the 1980s, however, these people seem to have no link to this new spurious entity.”
Community members have also weighed in, noting that legitimate wallet owners could simply move a small amount of BTC to prove activity rather than transferring the full balance.
This has also led many to suspect the campaign is part of a broader social engineering scam effort designed to gather sensitive information under a legal pretext.
BitMEX emphasized that users should not interact with the contact form or provide personal details.
The emergence of these scams illustrates the growing complexity of crypto-related fraud. In the first half of 2025 alone, hackers stole over $2.1 billion across 75 separate incidents, a 10% rise compared to the same period in 2024.
