đ STATE VAULT BREACHED đ
| South Korea Under Fire
đŹ What sounds like a cyber-crime movie just became reality.
South Korean authorities have confirmed a jaw-dropping loss of seized Bitcoin, exposing a critical failure in government crypto custody.
đ„ â©70 BILLION LOST đ„
Thatâs roughly $47.7 MILLION in BTC, gone after a targeted phishing attack hit the Gwangju District Prosecutorsâ Office.
đ Not a trader. Not an exchange. Not a retail wallet.
This Bitcoin was evidence â confiscated from an illegal gambling operation and supposedly locked down under state control.
â ïž So what went wrong?
𧱠âSecureâ Storage, Real-World Mistake
âȘïž Funds were held on a hardware wallet, widely viewed as top-tier security
âȘïž During a routine audit, the device was connected to an online system
âȘïž A fake phishing site was accessed
âȘïž Wallet credentials were silently compromised
âȘïž BTC drained â clean and fast
𧚠The irony?
The very office responsible for fighting cybercrime was undone by the same tactic.
đ Why this matters:
đș Cold storage isnât invincible
đș Human error remains the weakest link
đș Government crypto custody is now under global scrutiny
đș Policy, audits, and security models may all change
đ§ If seized Bitcoin isnât safe in a state vault, the real question is: where is it safe?
#SouthKoreaSeizedBTCLoss #BTC #CryptoSecurity #BlockchainRisk #PhishingAttack #DigitalAssets