Odaily Planet Daily reports that the Korean National Tax Service’s seizure operation resulted in the theft of $4.8 million worth of cryptocurrency after they publicly displayed original photos containing hardware wallet seed phrases. The Korean National Tax Service apologized and stated that they failed to realize the sensitive information when providing photos of the seizure scene. They have now requested police intervention to recover the assets and plan to conduct a comprehensive review of security systems and virtual asset management manuals. Korean Vice Prime Minister and Minister of Strategy and Finance Koo Yun-cheol posted on X platform that the Financial Services Commission and the Financial Supervisory Service will investigate the leak and strengthen regulation of digital assets managed by public institutions.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Trump’s empty crypto adviser seat, Vance takes on an anti-fraud role
The White House no longer has a dedicated crypto policy leader following Trump's appointment of JD Vance as "Fraud Czar." This shift comes after David Sacks's departure, leaving crypto legislation stalled. The focus on fraud enforcement contrasts with the lack of crypto policy leadership during a crucial legislative period.
TapChiBitcoin2h ago
Cambodia’s National Assembly passes anti–telecom fraud law; crypto scams can carry life imprisonment at most
Cambodia’s National Assembly unanimously passed a new law to crack down on cyber scams that use crypto assets, with a maximum penalty of life imprisonment. The bill will be reviewed by the Senate and approved by the King. The core leaders of scam syndicates face severe penalties; analysis suggests this may only shift the crimes, and that coordinated efforts are needed to target corruption and money-laundering networks as well.
GateNews2h ago
Will South Korea’s People Power Party overturn the crypto tax, and can the June election reverse the poll slump?
The People Power Party of South Korea has introduced a new bill, calling for the repeal of the cryptocurrency trading tax that is set to take effect in 2027, aiming to win support from younger voters and affect the value of votes. Analysts believe it may simply be a political strategy, and the actual impact is unclear; in the future, the bill could be postponed or amended again.
GateNews6h ago
IMF Warns: Four Key Risks or Shocks of Tokenized Finance Could Hit the Global Financial System
The International Monetary Fund (IMF) report warns that tokenized finance poses four major risks, including exacerbating market fragmentation, increasing financial stability risks, conflicts in cross-border settlement, and challenges for emerging economies. The IMF recommends implementing policies such as secure money anchoring and unified regulation to address these risks, and notes that the tokenized finance market is growing rapidly.
GateNews6h ago
X cracks down on crypto scams: the first token issuance locks the account, and identity verification mechanisms are fully upgraded
Social platform X is rolling out a new risk-control mechanism to combat scams that promote fake tokens after accounts are taken over. The system will automatically detect abnormal behavior and require identity verification to reduce the spread of scams. However, this measure has sparked controversy because it may mistakenly flag legitimate users. This initiative shows that social platforms are shifting roles in the crypto ecosystem, and it needs to strike a balance between security and openness.
GateNews7h ago
Kentucky removes HB380’s backdoor provisions; Bitcoin self-custody avoids a de facto ban
Kentucky successfully blocked Section 33 of HB380, which required hardware wallet manufacturers to provide a password reset mechanism. It was criticized as an indirect ban because it conflicts with the existing HB701 law’s protections for individuals’ right to independently control encrypted assets. After final revisions, the updated HB380 was submitted to the governor for signature, maintaining the state’s pro-Bitcoin policy.
MarketWhisper10h ago
