Something very odd has been unfolding in the world of Bitcoin lately. Some of the network’s earliest users, whose digital wallets have sat untouched for years, are now getting strange messages. These notes come from an entity calling itself the “revived” Salomon Brothers bank. This situation has many people asking: Is this real? And what on Earth is going on?
Since early July 2025, reports have surfaced about an organization that claims to be a new version of Salomon Brothers. This was once a big investment bank, but Citigroup took it over in 2003. This new group has started sending what it calls “legal notices” right on the Bitcoin blockchain itself.
Recently, people in the Bitcoin community noticed something unusual. Old wallets, some holding hundreds or even thousands of bitcoins, were getting messages. These messages appeared on the blockchain using a special function called OP_RETURN. The notes warned that the bitcoins in these addresses had been, or would be, seized. They told the wallet owners to complete a transaction on the blockchain to prove they still owned the funds. Every one of these messages pointed to a website called “Salomon Bros.”
These alerts arrived as tiny “dust” transactions. That means minuscule amounts of satoshis, the smallest unit of Bitcoin. They were sent to specific addresses created before 2012 that still hold large amounts of Bitcoin. One famous wallet targeted is 1Feex. It holds about 80,000 BTC, which many link to the Mt. Gox theft back in March 2011. Today, that much Bitcoin is worth roughly $8.6 billion.
What is OP_RETURN?
OP_RETURN is like a special instruction in the Bitcoin network. It lets people add small bits of data to a transaction. The cool part is, this data cannot be spent later. So, it’s a way to leave a permanent message on the blockchain without messing up how the network tracks money. In this case, the messages sent to old Bitcoin holders contained phrases like:
- LEGAL NOTICE: We have taken possession of this wallet and its contents.
- Not abandoned? Prove it by an on-chain transaction using a private key before September 30.
- NOTICE TO OWNER: See www.salomonbros.com/owner_notice
About 4,000 wallets have received these strange notifications. One notable event occurred when a large holder, or “whale,” moved over 80,000 BTC after getting one of these OP_RETURN messages. This wallet had been inactive since 2011.
Phishing or Real Claim?
Experts are weighing in. Researchers from BitMEX Research have called this campaign a phishing attempt. They say it is dressed up as a legal claim. They even compared it to past tricks used by figures like Calvin Ayre or Craig Wright. Security analyst @0xZilayo also stated these notices are “definitely phishing attempts.” He added that they have “no legitimacy.” Phishing is a cyberattack where a bad actor pretends to be a real company or person.
The website linked in these messages uses the “Salomon Brothers” name. It claims to have an “advisory board” made up of former bond traders from the 1980s. The site suggests this entity has taken “constructive possession” of inactive wallets. It gives any “good faith owner” 90 days, until October 5, 2025, to prove ownership. If they don’t, they lose all rights. Owners can prove this by moving funds from the address or by sending personal information through a web form.
However, BitMEX Research strongly argues that neither the website nor the entity has any connection to the original, now-defunct Salomon Brothers bank. That bank was a major player on Wall Street from the 1970s through the 1990s, and it stopped operating in 2003.
Anonymous Client and “Doctrine of Abandonment”
A new twist emerged this week. CoinDesk reported a statement from the “revived” Salomon Brothers. The group claims it has finished sending OP_RETURN notices. It aims to claim wallets it sees as “abandoned” under something called the “Doctrine of Abandonment.” Holders now have 90 days to reply.
The entity says it works for an “anonymous client.” Its stated goal is to stop “rogue states and criminal organizations with significant resources” from getting these addresses in the future. Their main argument is that assets left untouched for more than 14 years can legally be considered abandoned. This, they claim, opens the door for “recovery.” Yet, with Bitcoin, only the person with the private key can move funds. So, it’s not at all clear how this group could actually take control of these coins.
The statement also mentions a plan to create a fund. This fund would give money back to real owners who lost their private keys, but only if the group manages to recover the supposedly abandoned bitcoins.
The Quantum Computing Risk
The entity calling itself Salomon Brothers has not said how many old wallets received its notices. In the world of cryptocurrencies, one rule stands firm: only the owner of a private key can access or move funds from an address.
Still, this strange episode has sparked a wider conversation. David Carvalho, the CEO of Naoris Protocol, told CoinDesk that quantum computing could truly threaten cryptocurrencies. He warned that “6.51 million bitcoins, with a value of 700 billion dollars, are at stake.” He criticized the Bitcoin community for “moving slow” to address this potential issue.
Right now, there’s no clear proof that the real, reputable New York bank is involved in this. What we do have are facts: visible OP_RETURN messages, active websites, quick reactions from some wallet holders, and a lot of worry about potential scams. This whole situation also highlights a serious point. It shows how unclear legal areas could be used by bad actors. They might try to profit from old, inactive, or even stolen coins. This challenges both the technical security and the legal rules around digital assets.