By Azzam Bilal Chamdy 
Analysts at BitMEX Research have raised a serious alarm regarding an emerging cryptocurrency scam specifically targeting early Bitcoin holders, with a primary focus on individuals holding dormant wallets dating back to the foundational years of the network, particularly 2011. The sophisticated campaign exploits long-inactive blockchain addresses to inject false transactions and misleading data designed to trick unwary asset holders into believing their funds are under legal threat or facing forfeiture.
According to the intelligence gathered by BitMEX Research, the malicious actors behind this scheme leverage the OP_Return output feature native to the Bitcoin network. OP_Return is an optional field within Bitcoin transactions that allows users to append a small amount of arbitrary data to a ledger entry. In this instance, scammers have utilized this feature to attach false transaction markers and direct messages to dormant addresses, creating a digital trail that eventually leads unsuspecting individuals to fraudulent infrastructure outside the blockchain ecosystem.
In one prominent and well-documented case highlighted by investigators, the attackers trained their sights on the infamous "1Feex" wallet. This specific address holds approximately 80,000 Bitcoin, a massive fortune that is widely believed by blockchain sleuths and industry analysts to have been stolen during the catastrophic 2011 hack of the early cryptocurrency exchange Mt. Gox. The attackers crafted a specialized message within the blockchain data that links potential victims to a carefully constructed fraudulent website designed to impersonate Salomon Brothers, a legendary and now-defunct Wall Street investment banking firm.
Upon visiting the fraudulent portal, users are confronted with an official-looking legal notice claiming that the targeted Bitcoin wallet is officially classified as "lost or abandoned." The site then prompts supposed owners to step forward and prove their rightful claim to the digital assets. To accomplish this, the fraudulent platform requests that victims either sign an on-chain message using their private key or submit sensitive personal documentation through an embedded web contact form. The notice establishes a strict psychological pressure point, warning that if no valid response or claim is received by October 5, the wallet will be permanently deemed legally abandoned under fictitious legal frameworks.
Fake Legal Claims and Fabricated Advisory Boards
Security researchers and market analysts quickly dismantled the legitimacy of the claims made on the fraudulent portal, pointing out glaring inconsistencies and a complete lack of affiliation with any real corporate entities or historical stakeholders. BitMEX emphasized that the website displays no credible, verifiable link to the actual historical operations of Salomon Brothers or its former corporate leadership.
While the fraudulent site attempts to build an illusion of authority by displaying a list of real, verifiable individuals who genuinely worked at Salomon Brothers during the 1980s, investigators confirmed that none of these former Wall Street professionals have any association whatsoever with this new and spurious entity. The setup has drawn sharp comparisons within the cryptocurrency community to previous, highly controversial episodes involving public figures such as Calvin Ayre, who previously financed legal maneuvers and public relations campaigns surrounding the exact same historical Bitcoin address.
In a public assessment shared via social media and research channels, BitMEX Research detailed the deceptive nature of the portal, stating that the links between the shell company and the website are entirely fabricated. They noted the presence of an advisory board page featuring real historical personnel from the 1980s financial sector, yet reaffirmed that these individuals maintain zero connection to the fraudulent operation currently targeting the cryptocurrency community.
Members of the wider cryptocurrency community have also weighed in heavily on the mechanics of the scam, pointing out glaring logical flaws in the narrative pushed by the attackers. Experienced network participants noted that a legitimate wallet owner wishing to prove active control or presence over an old address would simply need to move a negligible amount of Bitcoin to demonstrate activity, rather than surrendering private keys or transferring full balances to unverified third parties. This glaring technical absurdity has led many security experts to suspect that the entire campaign is merely one component of a much broader, highly coordinated social engineering scam effort engineered specifically to harvest sensitive personal information, cryptographic credentials, and private keys under the false pretext of compliance and legal resolution.
Given the high stakes involved, BitMEX has issued explicit warnings urging cryptocurrency users, especially early adopters who may have left holdings untouched for over a decade, to avoid interacting with the suspicious contact forms or uploading any personal identifying documents. Engaging with these malicious portals could expose holders to devastating financial losses or targeted identity theft.
The emergence of these specialized, highly targeted social engineering schemes highlights the rapidly growing complexity and psychological sophistication of modern crypto-related fraud. As blockchain analysis tools become more adept at tracking illicit capital flows on-chain, scammers are increasingly shifting their focus toward manipulating human psychology and exploiting administrative or legal anxieties. This evolving threat landscape underscores a broader systemic challenge for the digital asset ecosystem. According to industry tracking and security reports, the first half of 2025 alone witnessed malicious actors and state-backed hacking syndicates steal over $2.1 billion across 75 separate security incidents, representing a notable 10% increase in total losses compared to the same operational period in the previous year.
Asro 
Layla Zulfa 
Muslim