🔥 BREAKING: South Korea Loses ~$48M in Seized Bitcoin! 🚨💸
📉 South Korea’s Gwangju District Prosecutors’ Office has reportedly lost $47.7M) worth of seized Bitcoin ($BTC ) 🪙 that was being held as criminal evidence.
Authorities now believe a phishing attack 🎣 may be responsible.
🕵️ What Happened?
During a routine audit 🔍 of confiscated crypto assets, officials discovered that a significant portion of seized $BTC was no longer in custody ❌
Investigators suspect an internal employee may have visited a fake website, unintentionally exposing access credentials 🔓 — allowing attackers to drain the funds.
⚠️ Why This Matters:
• 🏛️ This was government-held Bitcoin, not a retail investor loss — extremely rare
• 🔐 Raises serious concerns about institutional custody & private key security
• 🌍 Could trigger global reviews of crypto seizure and storage protocols as enforcement expands
📌 Key Takeaway:
If even state authorities can fall victim to phishing attacks…
🛡️ Crypto security discipline is non-negotiable — no matter who holds the keys.
💬 Your Take:
Would you trust governments to safely custody seized crypto? 🤔
👇 Drop your thoughts below.
#BTC | #bitcoin | #CryptoSecurity |#SouthKoreaSeizedBTCLoss | #SoulThunder