Scammers Target Early Bitcoin Holders with New Fraud Scheme
Recently, analysts at BitMEX Research have sounded the alarm about a new scam targeting early Bitcoin holders, particularly those with wallets dating back to 2011. The scam involves exploiting 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 a documented case, scammers targeted the well-known “1Feex” wallet, which holds around 80,000 BTC believed to have been stolen from Mt. Gox. The scammers crafted a message that directs victims to a fraudulent website impersonating the defunct Wall Street firm Salomon Brothers.
The fake website presents a legal notice claiming that the wallet is “lost or abandoned.” It then prompts 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. The notice states that if no response is received by Oct. 5, the wallet will be deemed legally abandoned.
Warning Against Fake Claims
BitMEX Research has cautioned that the website has no credible connection to the real Salomon Brothers or its former leadership. While the site lists real individuals who once worked at the firm, there is no apparent association with this new and likely fraudulent entity.
The approach used in this scam is reminiscent of previous scams involving controversial figures like Calvin Ayre, who had funded legal action related to the same Bitcoin address. BitMEX Research pointed out that the links between the company and the website are fake.
Community members have also advised that legitimate wallet owners could verify their ownership by moving a small amount of BTC instead of transferring the full balance. Many suspect that this campaign is part of a broader social engineering scam aimed at gathering sensitive information under a legal pretext.
BitMEX emphasized that users should avoid interacting with the contact form or providing personal details to the scammers.
The rise of these scams highlights the increasing complexity of crypto-related fraud. In the first half of 2025, hackers stole over $2.1 billion across 75 separate incidents, marking a 10% increase compared to the same period in 2024.