The South Korean National Tax Service (NTC) recently conducted law enforcement raids resulting in the seizure of cryptocurrency assets worth $5.6 million from 124 tax-evading citizens.
However, in a surprising turn of events, the agency posted photos of a hardware crypto wallet containing $4.8 million worth of the ill-gotten gains, along with a handwritten note displaying the wallet's mnemonic recovery phrase.
The NTC has apologized for the loss and is conducting an external diagnosis of its security system to strengthen internal controls and prevent similar incidents in the future.