[Yanix]

Just came across a shocking story involving the National Tax Service (South Korea’s tax agency).

In a press release, they reportedly exposed a crypto wallet’s mnemonic (seed) phrase — basically the master key that gives full access to the funds. As many of us know, once a seed phrase is public, the wallet is no longer secure.

Not long after the release, around $4.8 million worth of crypto was drained from the wallet.

https://www.kucoin.com/news/flash/south-...-4-8m-loss

[R5N3T]

Just came across a shocking story involving the National Tax Service (South Korea’s tax agency).

In a press release, they reportedly exposed a crypto wallet’s mnemonic (seed) phrase — basically the master key that gives full access to the funds. As many of us know, once a seed phrase is public, the wallet is no longer secure.

Not long after the release, around $4.8 million worth of crypto was drained from the wallet.

https://www.kucoin.com/news/flash/south-...-4-8m-loss

Wow, that’s really dangerous!

[DramaKing]

How could they be that stupid? I'm surprised that the tokens weren't gone within minutes.

[Omniscient]

These types of mistakes will continue to happen. Part of the 1-2% of crypto that is abuse, waste, and fraud. No different than fiat printed currency. The only real difference is that public ledger at least makes it partially traceable. But thieves have definitely gotten clever with covering themselves.

[IRLCash]

Hah now that's funny!