Technology

South Korean authorities lose over $4.8 million in crypto after posting mnemonic recovery phrase online — stolen PRTG tokens part of funds seized by National Tax Service from high-value tax evaders

Source

Tom's Hardware

Published

Mar 3, 2026

TL;DR

AI Generated

South Korean authorities lost over $4.8 million in crypto after inadvertently posting a mnemonic recovery phrase online, allowing a thief to transfer 4 million PRTG tokens. The National Tax Service seized assets from high-value tax evaders, including the stolen tokens. This incident follows a recent case where 22 Bitcoin worth over $1.5 million went missing due to mishandling by authorities. The lack of understanding around virtual assets among government employees highlights the need for better education and security measures in handling cryptocurrencies.

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