Recently, a British man has once again attracted attention in the crypto world. This man, who claimed to have lost a hard drive containing 8,000 Bitcoins in a landfill, publicly announced a new plan on August 5. He stated that he would convert these allegedly lost Bitcoins into a token called Ceiniog Coin (INI).

According to reports, the issuance of Ceiniog Coin will reach 800 billion coins, maintaining a 1:1 value lock with the smallest unit of Bitcoin, "satoshi". This Token is planned to be constructed on the Bitcoin network, utilizing OP_RETURN technology, and will be integrated with protocols such as Stacks, Runes, and Ordinals. The project team claims that Ceiniog Coin is expected to officially launch by the end of 2025.

It is worth noting that this is not the first time the man has proposed a similar plan. As early as May 29, he stated his intention to tokenize 21% of the 8000 Bitcoin in this wallet into LTT tokens. The plan at that time was to issue them during the TOKEN2049 conference in Singapore on October 1, with a target fundraising amount of up to 75 million USD.

However, industry insiders generally hold a cautious attitude towards these statements. Given that the British man has repeatedly announced his intention to tokenize the Bitcoin he claims to possess, there are doubts about the authenticity of the project and his actual control over these Bitcoins. Therefore, potential investors must be vigilant about the related risks and treat such information with caution.

This series of events once again highlights the complexity and uncertainty of the crypto assets market. Whether it is lost Bitcoins or emerging token projects, they remind us to remain clear-headed and rational when participating in related activities. In the absence of substantial evidence, investors should think twice before engaging in such high-risk and highly uncertain projects.