South Korean prosecutors have suffered a significant security breach, losing approximately $28.8 million in Bitcoin that was seized from an illegal online gambling operation. The assets were drained from 57 separate wallets in just 14 minutes, highlighting severe vulnerabilities in the management of confiscated digital assets. The breach, which occurred in Seoul, has raised critical questions about the security protocols of law enforcement agencies handling cryptocurrencies.
The stolen Bitcoin, originally seized in 2021, was stored across multiple wallets, but this method failed to prevent the hack. Investigators suspect an inside job or a sophisticated external attack, given the precision and speed of the theft. The funds have reportedly remained unmoved for over five months, complicating recovery efforts and underscoring the need for improved security measures in digital asset management by law enforcement worldwide.
South Korean Prosecutors Lose $28.8M in Bitcoin Seizure Hack
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