#SouthKoreaSeizedBTCLoss South Korea has just suffered a staggering $48M loss in seized Bitcoin—and it didn’t happen through a hack on the blockchain. It happened through a phishing scam 😬
Here’s what went wrong 👇
💻 A fake website fooled a government employee
🔑 Wallet credentials were compromised
💰 ~70 billion won in BTC vanished—just like that
The breach surfaced during a routine audit at the Gwangju District Prosecutors’ Office, exposing uncomfortable truths about how state-held crypto is actually protected.
This isn’t just a financial loss—it’s a global wake-up call 🔔
“Offline” storage isn’t invincible.
Human error is still the weakest link.
And governments are not immune to basic crypto security failures.
🔍 Authorities are now racing to trace the missing BTC
📉 Markets are paying attention
⚖️ Regulators may be forced to rethink custody standards for seized digital assets
If governments can lose Bitcoin to phishing… who’s really safe?
#CryptoSecurity #Bitcoin #PhishingAttack
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