Chainbase

#SouthKoreaSeizedBTCLoss 🚨 South Korean Authorities Lose Millions in Seized $BTC to Phishing Scam! The crypto world is buzzing today after a shocking report from South Korea. The Gwangju District Prosecutors' Office has launched an investigation into the "disappearance" of a massive haul of seized Bitcoin. The Details: The Loss: Approximately 70 billion won (approx. $47M - $50M USD) worth of Bitcoin. The Cause: Reports indicate the loss occurred during a routine inspection of seized assets stored on USB devices. An official reportedly clicked on a fraudulent (phishing) website, leading to the asset drain. The Impact: This incident has raised serious questions about institutional custody and the security protocols used by government agencies to manage digital assets. 📉 Market Sentiment While Bitcoin has seen some recent pressure—slipping toward the $88k level—this news adds another layer of unease regarding security. However, it’s worth noting that while authorities are struggling with "Cold Wallet" security, on-chain data shows whales are still accumulating. 💡 Key Takeaway If even government prosecutors can fall for a phishing link, it’s a massive reminder for all of us: Never click suspicious links. Verify every transaction. Self-custody is a responsibility, not just a right. What do you think? Does this news make you more cautious about how governments handle "seized" crypto, or is this just a one-off human error? Let’s discuss below! 👇 $NOM #BTC #SouthKorea #BinanceSquare #SecurityAlert