Scammers May Be Targeting Mt. Gox Bitcoin Address Holding $8.7 Billion in BTC Through Phishing Attempts

• Scammers are targeting a Bitcoin address holding $8.7 billion in BTC stolen from the infamous Mt. Gox exchange through a sophisticated phishing attempt.

• The attack involves sending transactions with OP_RETURN outputs containing misleading messages to lure the wallet owner into visiting a fraudulent website.

• According to BitMEX Research, the scam website impersonates the defunct Saloman Brothers bank and aims to extract personal information from the rightful owner of the wallet.

Bitcoin scammers exploit Mt. Gox’s $8.7B wallet using OP_RETURN phishing, targeting dormant addresses with fake recovery sites to steal personal data.

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Phishing Attack on Mt. Gox’s $8.7 Billion Bitcoin Wallet Using OP_RETURN Transactions

Recent reports reveal a targeted phishing campaign against a historic Bitcoin address—1FeexV6bAHb8ybZjqQMjJrcCrHGW9sb6uF—that holds approximately 79,956 BTC, valued at around $8.7 billion. This address is linked to the Mt. Gox exchange hack, one of the largest cryptocurrency thefts in history. Attackers are leveraging the Bitcoin blockchain’s OP_RETURN feature, which allows embedding arbitrary data into transactions, to send messages directly to this wallet. The embedded text contains a URL designed to entice the wallet’s owner to visit a fraudulent website, potentially exposing sensitive information.

Understanding OP_RETURN and Its Role in the Scam

The OP_RETURN opcode is a Bitcoin scripting function that enables users to store small pieces of data on the blockchain. While it has legitimate uses such as timestamping and metadata storage, scammers are exploiting it to embed deceptive messages. In this case, the transaction sent to the Mt. Gox wallet includes a message directing the owner to a website claiming to be affiliated with Saloman Brothers, a defunct Wall Street investment bank. BitMEX Research has flagged this as a clear phishing attempt, warning that the site is illegitimate and designed to harvest personal details from unsuspecting users.

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The Legacy of Mt. Gox and the Implications of Dormant Wallets

The Mt. Gox exchange collapse in 2014 resulted in the loss of approximately 850,000 BTC, worth over $92 billion at today’s prices. The address under attack was among those that received stolen coins during the hack. Despite law enforcement recovering around 140,000 BTC, the majority remain in dormant wallets, untouched for over a decade. These wallets have now become targets for scammers who exploit the possibility that the original owners might attempt to reclaim their assets. The ongoing rehabilitation process approved in 2021 aims to compensate creditors with roughly 90% of their lost funds, but the presence of these dormant addresses continues to attract malicious actors.

Security Risks and Preventive Measures for Crypto Holders

This phishing attempt underscores the critical importance of vigilance among cryptocurrency holders, especially those with dormant or legacy wallets. Users should be wary of unsolicited communications or blockchain transactions containing embedded URLs or messages. Experts recommend never interacting with suspicious websites or providing personal information without thorough verification. Additionally, employing hardware wallets and multi-factor authentication can significantly reduce the risk of unauthorized access. Crypto investors are encouraged to stay informed through trusted sources like BitMEX Research and COINOTAG to recognize emerging threats promptly.

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