"South Korea's National Tax Service seized crypto assets during recent enforcement actions against 124 high-value tax evaders, but now, a large chunk of that crypto cash has been lost. The operation originally resulted in the confiscation of crypto holdings worth about 8.1 billion won, or roughly $5.6 million."
"Officials later issued a press release to showcase these efforts in recovering delinquent taxes, and the release included photographs of Ledger hardware wallets taken into custody along with handwritten notes that displayed the wallet seed phrases. High-resolution photos clearly showed the mnemonic recovery phrases, which serve as the master key for accessing the wallets."
South Korea's National Tax Service seized approximately 8.1 billion won ($5.6 million) in cryptocurrency from 124 high-value tax evaders. The agency subsequently issued a press release documenting these enforcement actions, which included high-resolution photographs of confiscated Ledger hardware wallets. The images inadvertently displayed handwritten seed phrases—the master keys required to access the wallets. This critical security oversight allowed unauthorized parties to gain access to and transfer the seized assets. The incident represents a significant operational failure in asset management and information security protocols.
Read at DataBreaches.Net
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