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.
đ° 70 billion won in BTC disappeared
The issue came to light during a routine audit at the Gwangju District Prosecutorsâ Office, revealing uncomfortable truths about how seized crypto assets are being handled.
This isnât just about money lost.
Itâs a global warning sign đš
Even so called secure or âofflineâ systems can fail when human error meets weak security processes. Governments around the world now face tough questions about:
đ Crypto custody standards
đ Security protocols
âïž Regulatory responsibility
đ Authorities are still trying to trace the missing BTC
đ The crypto market is watching closely
đą 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
