Analysts at BitMEX Research have raised a critical security alarm regarding a newly emerged, highly sophisticated scam campaign specifically targeting early Bitcoin holders, with a particular focus on dormant wallets dating back to 2011.
According to the intelligence gathered by the research firm, the malicious campaign exploits long-inactive cryptocurrency addresses by injecting fraudulent transactions and deeply misleading messages directly onto the blockchain. Attackers are utilizing OP_Return outputs—an optional field built into Bitcoin transactions designed to carry small amounts of arbitrary data—to broadcast their malicious hooks to anyone monitoring these ancient addresses.
Targeting Historic Balances and Infamous Wallets
In one of the most prominent and thoroughly documented cases uncovered by analysts, the threat actors set their sights on the notorious “1Feex” wallet. This particular address holds approximately 80,000 Bitcoin, a massive fortune that is widely believed to have been illicitly acquired during the historic 2011 security breach of the defunct Mt. Gox cryptocurrency exchange.
To ensnare potential victims or anyone tracking the historical address, the attackers engineered a convincing deception. They crafted a blockchain message that directs individuals to a fraudulent website meticulously designed to impersonate Salomon Brothers, the legendary and historic Wall Street financial institution.
Once visitors navigate to the fraudulent domain, they are confronted with a fabricated legal notice. The site asserts that the targeted wallet is legally classified as “lost or abandoned.” To heighten the pressure and create a false sense of urgency, the notice invites supposed rightful owners to step forward and prove their claim. Victims are instructed to either sign an on-chain message utilizing the original private key associated with the wallet or submit sensitive personal documentation through an online web contact form. The fraudulent portal warns that if no valid claim or response is received by October 5, the wallet will permanently forfeit its holdings under spurious legal definitions.
Exposing Fake Legal Claims and Advisory Boards
Security researchers quickly dismantled the legitimacy of the operation. BitMEX noted that the website hosting the scam exhibits zero credible operational or structural links to the real Salomon Brothers or its historic corporate leadership.
While the fraudulent platform attempts to build an aura of authority by displaying an “advisory board” page featuring a list of real individuals who genuinely worked at Salomon Brothers back in the 1980s, none of these former professionals have any actual association with the newly surfaced, spurious entity.
BitMEX Research detailed the deception in their public findings, stating that the connections claimed by the website are entirely fabricated. The firm emphasized that the inclusion of real historical figures is a calculated social engineering tactic intended to deceive unsuspecting individuals into lowering their guard.
Furthermore, blockchain analysts and community members have weighed in on the operational mechanics of the scam, pointing out glaring inconsistencies that expose the fraud. Observers noted that a legitimate wallet owner attempting to prove activity or ownership would simply need to move a negligible amount of Bitcoin from the address rather than executing complex legal claims or transferring their entire balance through a centralized web portal.
These glaring red flags have led a broad segment of the cryptocurrency community to conclude that the campaign is part of an expansive, targeted social engineering initiative. The primary objective appears to be gathering sensitive personal information, cryptographic credentials, or private keys under the false pretext of a legal compliance procedure. BitMEX strongly reiterated its warning, urging all users and asset holders never to interact with the suspicious contact form or disclose private information under any circumstances.
The Escalating Threat of Crypto-Related Fraud
The emergence of this elaborate lost wallet scam underscores the growing sophistication and ingenuity of malicious actors operating within the digital asset ecosystem. Fraudsters are continuously evolving their methodologies, moving beyond basic phishing emails and fake token giveaways to orchestrate complex campaigns that weaponize blockchain data structures like OP_Return outputs and mimic institutional legal frameworks.
This incident arrives against a backdrop of escalating financial losses across the broader digital asset landscape. According to recent industry data, the first half of 2025 alone witnessed hackers and organized scam syndicates steal over $2.1 billion across 75 distinct security incidents. This staggering figure represents an approximate 10% increase in total stolen funds compared to the exact same period in the previous year, highlighting a persistent and growing challenge for both individual market participants and institutional security teams dedicated to safeguarding digital wealth.
