Abandoned BTC Wallets: Salomon Brothers’ Bold Move Sparks Crypto Controversy

Key Points

1. Salomon Brothers, part of Citigroup, is leveraging OP_Return notices to post legal claims against long-dormant Bitcoin wallets under the 'Doctrine of Abandonment'.

2. The 'Doctrine of Abandonment' is a legal principle typically applied to physical property, and its application to Bitcoin is contentious due to the nature of self-custody.

3. Critics question the enforceability of such claims on a decentralized network, particularly the use of OP_Return notices as a formal legal instrument.

4. The initiative has prompted swift reactions from some wallet owners and raised concerns about the security and implications of self-custody in the crypto market.

5. The outcome of the 90-day response window could significantly influence the development of crypto law and the future handling of abandoned digital assets.