A major security lapse by South Korea's government has led to the theft of approximately $4.8 million in digital assets. The National Tax Service (NTS) inadvertently revealed the seed phrase of a seized Ledger hardware wallet, exposing it to potential hackers.
The incident occurred during a public announcement about enforcement actions against high-profile tax evaders. The NTS released an uncensored image showing the cold wallet and its recovery seed phrase, which was enough for attackers to swoop in.
Blockchain analysts quickly detected suspicious activity linked to the exposed wallet. An unknown address sent a small amount of Ethereum to cover transaction fees, then transferred 4 million Pre-Retogeum (PRTG) tokens worth around $4.8 million.
This embarrassing breach has reignited debates about institutional gaps in crypto storage and operational security. The NTS hasn't commented on the incident, but it's clear that sensitive information shouldn't have been made public. This serves as a stark reminder of the importance of robust security measures in the crypto space.
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