๐ฅ BREAKING: South Korea Loses ~$48M in Seized Bitcoin! ๐จ๐ธ
๐ South Koreaโs Gwangju District Prosecutorsโ Office has reportedly lost $47.7M) worth of seized Bitcoin ($BTC ) ๐ช that was being held as criminal evidence.
Authorities now believe a phishing attack ๐ฃ may be responsible.
๐ต๏ธ What Happened?
During a routine audit ๐ of confiscated crypto assets, officials discovered that a significant portion of seized $BTC was no longer in custody โ
Investigators suspect an internal employee may have visited a fake website, unintentionally exposing access credentials ๐ โ allowing attackers to drain the funds.
โ ๏ธ Why This Matters:
โข ๐๏ธ This was government-held Bitcoin, not a retail investor loss โ extremely rare
โข ๐ Raises serious concerns about institutional custody & private key security
โข ๐ Could trigger global reviews of crypto seizure and storage protocols as enforcement expands
๐ Key Takeaway:
If even state authorities can fall victim to phishing attacksโฆ
๐ก๏ธ Crypto security discipline is non-negotiable โ no matter who holds the keys.
๐ฌ Your Take:
Would you trust governments to safely custody seized crypto? ๐ค
๐ Drop your thoughts below.
#BTC | #bitcoin | #CryptoSecurity |#SouthKoreaSeizedBTCLoss | #SoulThunder