US EditionSouth Korea probes $4.8 million crypto theft after tax seizure photo blunder
19 Articles
19 Articles
The South Korean tax authority has been a bit overenthusiastic about a large-scale crackdown on tax evasion. After raids on the homes of 124…
As won, the South Korean tax authorities in Jubeleifer accidentally disclosed the passwords to confiscated Krypo wallets. Much of the confiscated money subsequently involuntarily changed hands with the owner. According to the US blog Gizmodo, based on local sources, the South Korean tax authority had confiscated cryptocurrencies worth around 8.1 million won (4.7 million euros) in the course of investigations against 124 tax offenders at the end …
South Korean authorities lose over $4.8 million in crypto after posting mnemonic recovery phrase online — stolen PRTG tokens part of funds seized by National Tax Service from high-value tax evaders
South Korea's National Tax Agency added a photo of a hardware wallet in a press release, which also listed its mnemonic seed phrase. This led to an unknown user using the code to recover the wallet and steal over US$4.8 million in crypto seized by the government.
Korea To Review Crypto Custody Practices Of Seized Assets
South Korean financial authorities have pledged to revise their crypto custody practices following public scrutiny over multiple incidents that led to the loss of nearly $30 million in seized digital assets over the past few months. Authorities Move To Enhance Crypto Custody Practices South Korea’s Deputy Prime Minister and Minister of Finance, Koo Yun-cheol, affirmed that authorities will review their management practices of seized crypto asset…
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