Reproduced with a combination of mIRC v7.61.367 and UnrealIRCd-5.0.3.1

Reproduced with mIRC v7.61.367
Not reproduced with mIRC v7.61.159
UnrealIRCd-5.0.3.1
phoenix.infomatrix-irc.com (both SSL and non-SSL)
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Not reproduced with mIRC v7.61.367
Not reproduced with mIRC v7.61.159
UnrealIRCd-5.0.2
pegasus.infomatrix-irc.com (both SSL and non-SSL)
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[10:33] Caps supported: unrealircd.org/link-security=1 unrealircd.org/plaintext-policy=user=allow,oper=deny,server=deny extended-join chghost cap-notify userhost-in-names multi-prefix away-notify sasl=EXTERNAL,PLAIN tls account-notify message-tags batch account-tag server-time echo-message labeled-response
[10:33] Caps set: extended-join chghost cap-notify userhost-in-names multi-prefix away-notify account-notify message-tags batch account-tag server-time labeled-response
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[10:33] Welcome to the Infomatrix IRC Network WTF1!****@**-**-***-***.******.*****.com
[10:33] Your host is phoenix.infomatrix-irc.com, running version UnrealIRCd-5.0.3.1
[10:33] This server was created Wed Feb 12 2020 at 21:35:45 UTC
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[10:33] phoenix.infomatrix-irc.com UnrealIRCd-5.0.3.1 iowrsxzdHtIDZRqpWGTSB lvhopsmntikraqbeIHzMQNRTOVKDdGLPZSCcf
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[10:33] AWAYLEN=307 CASEMAPPING=ascii CHANLIMIT=#:10 CHANMODES=beI,kLf,lH,psmntirzMQNRTOVKDdGPZSCc CHANNELLEN=32 CHANTYPES=# DEAF=d ELIST=MNUCT EXCEPTS EXTBAN=~,ptmTSOcarnqjf HCN INVEX are supported by this server
[10:33] KICKLEN=307 KNOCK MAP MAXCHANNELS=10 MAXLIST=b:60,e:60,I:60 MAXNICKLEN=30 MINNICKLEN=0 MODES=12 NAMESX NETWORK=Infomatrix NICKLEN=30 PREFIX=(qaohv)~&@%+ are supported by this server
[10:33] QUITLEN=307 SAFELIST SILENCE=15 STATUSMSG=~&@%+ TARGMAX=DCCALLOW:,ISON:,JOIN:,KICK:4,KILL:,LIST:,NAMES:1,NOTICE:1,PART:,PRIVMSG:4,SAJOIN:,SAPART:,USERHOST:,USERIP:,WATCH:,WHOIS:1,WHOWAS:1 TOPICLEN=360 UHNAMES USERIP WALLCHOPS WATCH=128 WATCHOPTS=A WHOX are supported by this server
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[10:33] matrix-********.******.******.com is now your displayed host
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* Remote is off
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* Debug output on (@Debug)
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[10:35] -> *WTF1* test
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[10:35] phoenix.infomatrix-irc.com ACK
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[10:35] -> -WTF1- test
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[10:35] -WTF1- test
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[10:35] phoenix.infomatrix-irc.com ACK
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[10:35] -> [WTF1] TEST
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[10:35] [WTF1 TEST]
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[10:35] phoenix.infomatrix-irc.com ACK
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-> phoenix.infomatrix-irc.com @label=0027 PRIVMSG WTF1 :test
<- @time=2020-04-10T15:35:09.258Z;msgid=tgnXd5pLEVFTtrrDo81NlW :WTF1!****@matrix-********.******.******.com PRIVMSG WTF1 :test
<- @label=0027 :phoenix.infomatrix-irc.com ACK
-> phoenix.infomatrix-irc.com @label=0028 NOTICE WTF1 :test
<- @time=2020-04-10T15:35:10.839Z;msgid=it4G2k5q1ePwSk50a9Uurt :WTF1!****@matrix-********.******.******.com NOTICE WTF1 :test
<- @label=0028 :phoenix.infomatrix-irc.com ACK
-> phoenix.infomatrix-irc.com @label=0029 PRIVMSG WTF1 :TEST
<- @time=2020-04-10T15:35:12.295Z;msgid=XOq1dFeGxzYYyNpzMtl0mm :WTF1!****@matrix-********.******.******.com PRIVMSG WTF1 :TEST
<- @label=0029 :phoenix.infomatrix-irc.com ACK

Reproduced with mIRC v7.61.367
Not reproduced with mIRC v7.61.159
UnrealIRCd-5.0.3.1
phoenix.infomatrix-irc.com (both SSL and non-SSL)
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[10:44] Caps supported: unrealircd.org/link-security=1 unrealircd.org/plaintext-policy=user=allow,oper=deny,server=deny extended-join chghost cap-notify userhost-in-names multi-prefix away-notify account-notify sasl=EXTERNAL,PLAIN tls message-tags batch account-tag server-time echo-message draft/labeled-response-0.2
[10:44] Caps set: extended-join chghost cap-notify userhost-in-names multi-prefix away-notify account-notify message-tags batch account-tag server-time
[10:44] Welcome to the Infomatrix IRC Network WTF1!****@**-**-***-***.******.*****.com
[10:44] Your host is pegasus.infomatrix-irc.com, running version UnrealIRCd-5.0.2
[10:44] This server was created Sat Feb 1 2020 at 10:03:59 CET
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[10:44] pegasus.infomatrix-irc.com UnrealIRCd-5.0.2 iowrsxzdHtIDZRqpWGTSB lvhopsmntikraqbeIHzMQNRTOVKDdGLPZSCcf
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[10:44] AWAYLEN=307 CASEMAPPING=ascii CHANLIMIT=#:10 CHANMODES=beI,kLf,lH,psmntirzMQNRTOVKDdGPZSCc CHANNELLEN=32 CHANTYPES=# DEAF=d ELIST=MNUCT EXCEPTS EXTBAN=~,ptmTSOcarnqjf HCN INVEX are supported by this server
[10:44] KICKLEN=307 KNOCK MAP MAXCHANNELS=10 MAXLIST=b:60,e:60,I:60 MAXNICKLEN=30 MINNICKLEN=0 MODES=12 NAMESX NETWORK=Infomatrix NICKLEN=30 PREFIX=(qaohv)~&@%+ are supported by this server
[10:44] QUITLEN=307 SAFELIST SILENCE=15 STATUSMSG=~&@%+ TARGMAX=DCCALLOW:,ISON:,JOIN:,KICK:4,KILL:,LIST:,NAMES:1,NOTICE:1,PART:,PRIVMSG:4,SAJOIN:,SAPART:,USERHOST:,USERIP:,WATCH:,WHOIS:1,WHOWAS:1 TOPICLEN=360 UHNAMES USERIP WALLCHOPS WATCH=128 WATCHOPTS=A WHOX are supported by this server
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[10:44] matrix-********.******.******.com is now your displayed host
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* Remote is off
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* Debug output on (@Debug)
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[10:45] -> *WTF1* test
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[10:45] -> -WTF1- test
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[10:45] -WTF1- test
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[10:45] -> [WTF1] TEST
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[10:45] [WTF1 TEST]
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-> pegasus.infomatrix-irc.com PRIVMSG WTF1 :test
<- @time=2020-04-10T15:45:46.001Z;msgid=c8N1J4nl6ve7FQUcThibZz :WTF1!****@matrix-********.******.******.com PRIVMSG WTF1 :test
-> pegasus.infomatrix-irc.com NOTICE WTF1 :test
<- @time=2020-04-10T15:45:49.971Z;msgid=TRFOl3aONerDmg8YQN56uz :WTF1!****@matrix-********.******.******.com NOTICE WTF1 :test
-> pegasus.infomatrix-irc.com PRIVMSG WTF1 :TEST
<- @time=2020-04-10T15:45:52.643Z;msgid=UpsnYdF8mcCNJDIIsAhl8C :WTF1!****@matrix-********.******.******.com PRIVMSG WTF1 :TEST

Not reproduced with mIRC v7.61.367
Not reproduced with mIRC v7.61.159
UnrealIRCd-5.0.2
pegasus.infomatrix-irc.com (both SSL and non-SSL)