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South Korea's National Tax Service lost $4.8 million in assets after revealing a mnemonic phrase in a press release
Svmuu News: In a press release issued on February 26 regarding the seizure of assets from individuals with large tax arrears, the National Tax Service of South Korea inadvertently disclosed the mnemonic phrases for cryptocurrency hardware wallets. The press release included an unblurred photo showing a Ledger wallet and handwritten mnemonic phrases. According to the director of the Blockchain Research Institute at Yonsei University and Onchain data monitoring, this breach resulted in the suspected theft of approximately $4.8 million (about 6.4 billion KRW) in assets by hackers. On-chain data shows that in the early hours of the 27th, 4 million PRTG tokens from the relevant wallet were transferred to an anonymous address. Experts have criticized the South Korean tax authorities for a lack of basic cybersecurity awareness, which they say directly led to significant losses of national assets.
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