An alarming trend has surfaced in the crypto world: holders of dormant Bitcoin wallets—some untouched for over 14 years—are receiving unsolicited Old Bitcoin wallets legal notices via the blockchain. These notices, embedded using Bitcoin’s OP_RETURN function, claim ownership based on the “Doctrine of Abandonment.” The sender? A revived Salomon Brothers, the long-defunct Wall Street institution.
2. Legal Notices Hidden in Bitcoin Transactions
Salomon Brothers has completed the insertion of OP_RETURN messages into dormant Bitcoin addresses, asserting legal claims and giving owners a 90-day window to respond—either by conducting an on-chain transaction or submitting a claim form.This method leverages Bitcoin’s protocol as a “bulletin board” for legal communications—an innovative yet controversial tactic for digital asset claims.
3. Community Backlash & Phishing Warnings
Security experts and the wider crypto community view the campaign with deep skepticism. BitMEX Research warns users not to trust associated websites, citing phishing concerns.
Described as a “legal racket disguised via blockchain” by some, the notices have sparked heated debate over the boundaries of self-custody and blockchain immutability.
4. The High-Stakes Target: 1Feex Wallet
A prominent case is the infamous 1Feex wallet, tied to the Mt. Gox hack and containing roughly 80,000 BTC (~$8 billion). This wallet, among others, received a dusting transaction carrying a legal notice.
While OP_RETURN messages can’t move funds, they may prompt panic-driven behavior or expose users to scams.
5. Broader Implications for Crypto Ownership
This development poses sweeping questions:
- Does an on-chain notice have real-world legal merit?
- Can long-dormant digital assets ever be reclaimed via traditional property doctrines?
- Are we entering an era where institutional actors challenge the core principles of blockchain ownership?
6. What Wallet Owners Should Do
- Immediately move funds if you control an address that received claims.
- Avoid clicking links or submitting information on any associated websites.
- Seek legal advice only if you have millions at stake; otherwise, remember that real ownership lies solely in the private key.
7. Conclusion
These actions demonstrated by Salomon Brothers legal or fraudulent can point to a powerful antagonism: the confrontation between the self-sovereign ideology of blockchain and the current legal system. While private-key control remains paramount, this episode may open a slippery legal slope for digital assets. The core question endures: in crypto, who truly owns what?