This bank releases an ultimatum to bitcoiners with inactive wallets
New York investment bank Salomon Brothers has taken a controversial step by sending legal notices to bitcoin wallet owners (BTC) that have remained inactive for years.
Using the OPRETURN function, which allows you to insert small messages into transactions of the Bitcoin network (BTC), the bank has sent notifications associated with wallet addresses considered abandoned.
OPRETURN is a space within transactions where data cannot be included that does not affect the movement of funds, but does allow for leaving public and permanent warnings on the network.
According to a press release that the renewed Salomon Brothers shared with U.S. media, the bank seeks to protect these digital assets from possible misuse by criminal groups or governments with hostile interests.
However, press reports state that the entity appeals to the so-called Anaton Doctrine. This is a legal principle that allows unused goods to be claimed for an extended period. This rule could apply to these wallets, although their validity in the context of cryptocurrencies is debated.
Under this premise, the entity grants 90 days so that legitimate owners can prove their ownership, either by making a transaction or by completing a form on the bank’s official website.
One of the most outstanding cases is the portfolio of 1Feex, which contains about 80,000 BTC and is linked to historical facts of the bitcoin ecosystem. David Carvalho, CEO of Naoris Protocol, told CoinDesk that they are taking advantage of Bitcoin’s infrastructure as an ad bullpen.
He also warned of vulnerability to techniques such as quantum hacking and criticized the slowness of the community to implement effective protective measures.
When David Carvalho mentions quantum hacking, it refers to the possibility that quantum computers could break the cryptographic systems that currently protect the private keys of bitcoin.
This means that if security updates are not implemented in time, hackers with access to quantum technology could access funds that are now considered safe. Carvalho points out that, although there are proposals to improve this protection, they are slowly moving forward in their view.
Although the identity of the client who commissioned this action remains anonymous, it has been reported that some of the recovered bitcoin will be destined for a fund created to help those who have lost legitimate access to their wallets.
It should be noted that the OP-Return function, which Salomon Brothers uses to issue these warnings, has also been exploited by scammers to carry out more sophisticated frauds. As reported by CryptoNews, a report by BitMEX Research detailed that criminals inserted fraudulent messages into a historic direction linked to Mt’s collapse. Gox in 2014, redirecting unsuspecting users to fake websites that pretend to be legitimate.
About The Author
