By Siti Muinah 
Analysts at BitMEX Research have raised a critical security alarm regarding a sophisticated new scam campaign targeting early Bitcoin holders, particularly those holding assets in long-dormant wallets dating back to 2011.
According to the research firm, the fraudulent operation exploits historic blockchain addresses by injecting deceptive transactions and misleading messages directly into the ledger. This is accomplished utilizing OP_Return outputs, which are an optional field within Bitcoin transactions specifically designed to carry small amounts of arbitrary data.
In one of the most prominent documented cases, the malicious actors targeted the widely known “1Feex” wallet. This specific address holds approximately 80,000 Bitcoins that are widely believed to have been stolen during the historic and catastrophic collapse of the Mt. Gox cryptocurrency exchange years ago. The attackers crafted an on-chain message via the OP_Return field that directs potential victims to a fraudulent website meticulously designed to impersonate the defunct, high-profile Wall Street investment firm Salomon Brothers.
The fake website presents visitors with a fabricated legal notice asserting that the targeted wallet is legally classified as "lost or abandoned." It then invites the supposed owners of the address to step forward and prove their rightful claim. To substantiate ownership, the site instructs individuals to either sign an on-chain message using their private key or submit sensitive personal documentation through an online web contact form. The fraudulent notice explicitly threatens that if no verified response or claim is received by October 5, the wallet will be permanently deemed legally abandoned and subject to forfeiture.
Fake Legal Claims and Fabricated Advisory Boards
Security researchers at BitMEX have thoroughly investigated the digital infrastructure behind the fraudulent website and confirmed that it displays zero credible links to the real Salomon Brothers or its historic former leadership team. While the deceptive web page prominently features a list of real individuals who historically worked at the investment firm during the 1980s, none of these former professionals have any actual association with this newly emerged and spurious entity.
The research platform noted that this tactical approach bears striking resemblances to earlier, controversial campaigns. Specifically, observers pointed out thematic parallels to previous legal actions and maneuvers funded by controversial figures such as Calvin Ayre, who has previously been involved in legal disputes and initiatives concerning the exact same historical Bitcoin address.
Detailing the deception, BitMEX Research stated in their public advisory: “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.”
As news of the scam spread across the digital asset ecosystem, members of the broader cryptocurrency community quickly weighed in with technical analysis. Security-minded community members pointed out that a legitimate wallet owner wishing to prove activity or operational control would simply move a small, negligible amount of Bitcoin to verify access, rather than transferring a full balance or submitting sensitive personal documentation to an unverified third party.
This technical absurdity has led many industry analysts and cybersecurity experts to suspect that the campaign is merely a component of a much broader, coordinated social engineering scam effort. The ultimate objective appears to be gathering sensitive personal information, cryptographic credentials, and private identifiers under the guise of an official legal proceeding.
Growing Sophistication of Crypto-Related Fraud
In light of these deceptive tactics, BitMEX has strongly emphasized that cryptocurrency users, particularly early adopters and holders of dormant funds, should entirely avoid interacting with the suspicious contact form or providing any personal details whatsoever.
The emergence of these elaborate social engineering campaigns highlights the continuously growing complexity, ingenuity, and persistence of crypto-related fraud. Malicious actors are increasingly shifting away from simple phishing links toward context-driven, highly targeted schemes that weaponize blockchain metadata and psychological pressure.
This ongoing threat landscape is further underscored by broader macroeconomic and industry-wide security data. In the first half of 2025 alone, malicious actors and hackers successfully stole over $2.1 billion across 75 separate security incidents. This staggering figure represents an alarming 10% increase in total stolen funds compared to the same tracking period in the previous year, driven in part by increasingly aggressive state-backed hacking syndicates and sophisticated phishing operations targeting both institutional and individual crypto holders.
Reynand Wu 
Laily UPN 
Nana