By Lina Hope 
Cryptocurrency security analysts have issued a widespread alert regarding a sophisticated and emerging scam campaign targeting early Bitcoin holders, with a particular emphasis on dormant wallets dating back to the foundational years of the asset, including 2011.
According to reports from researchers at BitMEX Research, the malicious campaign exploits long-inactive cryptocurrency addresses by injecting unauthorized transactions and misleading communications directly into the blockchain. These threat actors are leveraging OP_Return outputs—an optional field built into Bitcoin transactions designed to store arbitrary data—to broadcast false notices to anyone monitoring these legacy addresses.
The strategy represents a concerning evolution in crypto-related social engineering, shifting away from standard phishing emails and compromised social media accounts toward direct, on-chain manipulation that aims to deceive unsuspecting holders or legacy asset monitors into believing their funds are under legal jeopardy.
Exploiting Notorious Historical Addresses
In one prominent case documented by analysts, the attackers targeted the well-known "1Feex" wallet. This specific address holds approximately 80,000 Bitcoin, a massive fortune that historical blockchain intelligence ties to the catastrophic 2011 breach of Mt. Gox, which was then the world’s largest cryptocurrency exchange.
To execute the scheme, the perpetrators crafted an automated or manual transaction containing an OP_Return message that directs curious blockchain explorers and potential victims to a fraudulent website. This rogue domain heavily impersonates Salomon Brothers, a legendary and defunct Wall Street investment banking firm.
Once visitors navigate to the fraudulent web page, they are greeted with a fabricated legal notice asserting that the targeted wallet is legally classified as "lost or abandoned." The site then prompts supposed owners to step forward and prove their rightful ownership of the multi-billion-dollar asset. Victims are instructed to either sign an on-chain message using their private keys or submit sensitive personal documentation through an embedded web contact form.
To create a false sense of urgency and panic, the notice includes a strict deadline, warning that if no valid claim or response is received by October 5, the wallet will officially be deemed legally abandoned under fictitious legal frameworks, forfeiting any right to recovery.
Fake Legal Claims and Unfounded Affiliations
Security investigators at BitMEX Research quickly analyzed the fraudulent portal and confirmed that the website bears no legitimate connection whatsoever to the real Salomon Brothers or its historical leadership structure.
While the scammers attempted to build a facade of corporate credibility by displaying a public directory listing real individuals who genuinely worked at Salomon Brothers during the 1980s, investigators found no evidence that these former executives have any association with the newly minted, spurious entity behind the website.
Analysts noted that the architectural approach and underlying tactics of this campaign bear striking similarities to earlier, highly controversial legal battles involving the same historical Bitcoin address, which previously attracted the attention of high-profile figures such as Calvin Ayre, who had funded past legal initiatives concerning the 1Feex funds.
Addressing the community via social media and official channels, BitMEX Research detailed the disconnect between the fraudulent entity and historical reality, stating that the website’s advisory board features real people from the 1980s financial sector who appear to have no link to the current scam.
As news of the campaign spread across crypto community forums, seasoned blockchain participants quickly weighed in on the mechanics of the attack. Many community members pointed out the glaring security risks embedded in the scammers’ instructions, noting that a legitimate wallet owner attempting to prove activity on a legacy address would simply need to move a negligible amount of Bitcoin to a new location, rather than interacting with a third-party contact form or surrendering private key signatures.
This glaring technical mismatch has led security experts and community observers alike to conclude that the campaign is not a genuine legal proceeding, but rather a calculated social engineering effort designed to harvest sensitive personal data or compromise private keys under the guise of legal compliance.
Security firms have reiterated strong warnings advising cryptocurrency users, particularly those managing early-era or dormant assets, to completely ignore these blockchain-injected messages, avoid interacting with the fraudulent contact forms, and refrain from sharing any personal information or cryptographic credentials.
Rising Crypto Fraud Landscape
The emergence of these sophisticated, on-chain social engineering tactics highlights the growing complexity and scale of digital asset fraud worldwide. As blockchain technology evolves, malicious actors continue to develop novel methodologies to bypass traditional security guardrails and exploit psychological vulnerabilities among asset holders.
This incident arrives amid a broader wave of digital heists and financial crimes across the cryptocurrency sector. Data tracking industry-wide illicit activities reveals that in the first half of 2025 alone, hackers and cybercriminal syndicates successfully stole over $2.1 billion across 75 separate security incidents. This staggering figure represents an approximate 10% increase in total losses compared to the same tracking period in the previous year, driven in large part by increasingly coordinated state-backed hacking groups and advanced social engineering rings targeting both retail participants and institutional holders.
As security analysts continue to monitor the landscape, the latest campaign targeting 2011-era wallets serves as a stark reminder that even the earliest participants in the cryptocurrency ecosystem remain prime targets for evolving digital threats.
Asro 
Layla Zulfa 
Muslim