South Korea has reportedly lost $48M worth of seized Bitcoin, and the reason is scarier than a market dump a phishing scam.
A government employee unknowingly interacted with a fake website, wallet credentials were compromised, and just like that.
💰 70 billion won in BTC disappeared
The issue came to light during a routine audit at the Gwangju District Prosecutors’ Office, revealing uncomfortable truths about how seized crypto assets are being handled.
This isn’t just about money lost.
It’s a global warning sign 🚨
Even so called secure or “offline” systems can fail when human error meets weak security processes. Governments around the world now face tough questions about:
🔐 Crypto custody standards
📜 Security protocols
⚖️ Regulatory responsibility
🔍 Authorities are still trying to trace the missing BTC
👀 The crypto market is watching closely
📢 Policy changes may follow
If a government can lose Bitcoin to phishing.
what does that say about digital asset security today?
#SouthKoreaSeizedBTCLoss #CryptoSecurity #PhishingAttack #BlockchainNews
