Salomon Brothers Targets Dormant Bitcoin Wallets in Legal Move

• Salomon Brothers claims ownership over dormant Bitcoin using legal notices.
• The 1Feex wallet with ~80,000 BTC is among the main targets.
• Legal and ethical concerns arise, including implications for crypto privacy.

In a surprising turn, the revived investment bank Salomon Brothers has begun asserting claims over dormant abandoned Bitcoin wallets by sending out legal notices using the Bitcoin blockchain itself. These messages, embedded via OP_Return transactions, rely on the “Doctrine of Abandonment,” a legal theory suggesting that property unclaimed over time can be declared ownerless and subject to claim.

While this doctrine is common in traditional law, applying it to Bitcoin—where wallets may remain untouched for years for various reasons—has raised both eyebrows and alarms across the crypto community.

Focus on High-Value Bitcoin Addresses

Among the most notable targets is the 1Feex address, which contains around 80,000 BTC, valued at billions of dollars. This wallet has a controversial past, with links to the defunct Mt. Gox exchange, further complicating the matter.

Salomon Brothers appears to be banking on legal gray areas to establish possible ownership or at least initiate legal proceedings. Their strategy could open the door to future claims against other abandoned Bitcoin wallets, especially those with significant balances and no recent activity.

However, critics argue this could set a dangerous precedent, as wallet inactivity does not necessarily mean abandonment. Owners may be locked out, deceased, or simply choosing not to move their funds.

Ethical and Security Concerns Emerge

The move has sparked a broader debate in the crypto space. Critics highlight privacy and ethical issues, warning this could undermine core Bitcoin principles like self-custody and sovereignty.

Furthermore, some experts fear this strategy might pave the way for quantum computing threats in the future. If entities can legally claim dormant wallets now, what’s to stop more aggressive tactics as technology evolves?

On the other hand, supporters of Salomon Brothers’ approach see it as a potential method for recovering vast sums of idle capital that might otherwise be lost forever.

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