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South Korea to Investigate Leak of Cryptocurrency Mnemonic Phrases That Cost Tax Authority $4.8 Million
Svmuu News: The National Tax Service of South Korea disclosed unedited photos containing the mnemonic phrases for hardware wallets during a seizure operation, resulting in the theft of $4.8 million worth of cryptocurrency. The National Tax Service of South Korea has apologized for the incident, stating that it failed to recognize the presence of sensitive information when releasing photos from the raid site. The agency has requested police intervention to recover the assets and plans to conduct a comprehensive review of its security systems and virtual asset management guidelines. South Korean Deputy Prime Minister and Minister of Economy and Finance Koo Yun-cheol posted on X, stating that agencies such as the Financial Services Commission and the Financial Supervisory Service will investigate the leak and strengthen oversight of public institutions managing digital assets.
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