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X Address

If you see an address “X” in CipherTrace, that is an OP_RETURN script, which is a way to add a message to a BTC transaction. OP_RETURN is a script opcode used to mark a transaction output as invalid. Since any outputs with OP_RETURN are probably unspendable, OP_RETURN outputs can be used to burn bitcoins. Many members of the Bitcoin community frown on the use of OP_RETURN, in part because Bitcoin was intended to provide a record for financial transactions, not a record for arbitrary data. That being said, OP_RETURN can be used for digital asset proof-of-ownership, and has at times been used to convey additional information needed to send transactions.

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