Galaxy Research has debunked speculation surrounding mysterious "gibberish inscriptions" appearing on the Bitcoin network over the past three weeks. Approximately 40 random-letter inscriptions emerge daily, but statistical analysis of 562 texts reveals letter frequencies uniformly distributed between 3.6% and 4.2%, far from natural English patterns. On-chain behavior shows clear automation signatures: transactions typically feature a single input, a new change address, and an OP_RETURN data output, with subsequent transactions spending previous change outputs in chains up to 86 transactions long.
The research team dubbed the operator "Babel Scribe" and concluded the activity resembles testing data-publishing tools on Bitcoin's mainnet rather than encoding hidden messages. The inscriptions include test text, random words in various languages, binary data, and a later inscription of the U.S. Declaration of Independence. An estimated 3.33 million satoshis were deposited into related addresses, with roughly 24% spent on miner fees while the remainder remains untouched. Galaxy Research advised against over-interpreting the gibberish as containing concealed information.
Galaxy Research: Bitcoin "Gibberish Inscriptions" Likely Automated Script Tests, Not Hidden Messages
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