🟥 STATE-LEVEL CRYPTO FAIL 🟥
South Korea Shockwave
💥 70€ BILLION — ERASED 💥
A single mistake. One fake link. And $48,000,000 in seized Bitcoin disappeared.
🇰🇷 A South Korean government employee was tricked by a phishing site, unknowingly handing over access to a wallet holding confiscated BTC.
🔓 Credentials compromised
🖥️ Security assumptions shattered
💸 Bitcoin drained
The loss surfaced during a routine inspection at the Gwangju District Prosecutors’ Office, revealing just how fragile institutional crypto custody can be.
⚠️ This wasn’t a hacker targeting traders — this hit the state itself.
Key takeaways 👇
🔹 “Cold storage” ≠ untouchable
🔹 Human error is the weakest link
🔹 Government crypto security isn’t battle-tested
🔹 Regulation without execution means nothing
🕵️ Authorities are now scrambling to trace the stolen BTC
📊 Investors are paying attention
🏛️ Regulators may soon face uncomfortable questions
💬 If a government can lose Bitcoin… what does that say about digital asset security globally?
#BTC #CryptoRisk #BlockchainAlert #PhishingScam #SouthKorea #DigitalAssets #CryptoNews #SouthKoreaSeizedBTCLoss