The Gwangju District Prosecutors” Office in South Korea has reported a shocking incident involving a significant loss of Bitcoin (BTC). During a routine internal inspection of seized assets, officials discovered that a substantial amount of Bitcoin, valued at approximately $47.7 million, was no longer accessible. The loss is believed to stem from a phishing attack that compromised the agency”s access to the digital assets.
This alarming situation came to light when prosecutors conducted checks on stored financial assets, which included verifying passwords and access details maintained on removable storage devices. According to local media, the incident may have occurred when an agency worker inadvertently visited a fraudulent website, leading to the exposure of the wallet password or access credentials.
Reports indicate that the lost Bitcoin could amount to “hundreds of billions of won,” although authorities have not publicly confirmed the exact figures. The potential breach appears to have occurred not through a direct attack on secure systems, but rather via a scam link that tricked the employee into revealing critical information.
As investigations unfold, the Gwangju District Prosecutors” Office is working diligently to trace the lost assets and understand the circumstances surrounding this incident. This case underscores the ongoing threat of phishing scams within the cryptocurrency space, which have increasingly targeted both individual and institutional holders.
Phishing tactics remain prevalent, often involving spoofed websites or deceptive messages designed to lure victims into disclosing sensitive information. Earlier this year, users of Ledger, a well-known hardware wallet provider, faced similar threats following a data breach at one of its partners. Scammers capitalized on the situation by sending personalized emails that misled users into entering their recovery phrases on a fraudulent site.
Industry experts, including Bitget CEO Gracy Chen, have highlighted the rise of phishing scams that exploit virtual meeting platforms, warning users to verify links and avoid installing software during calls. The latest incident involving the Gwangju District Prosecutors” Office serves as a stark reminder of the vulnerabilities that persist in the cryptocurrency ecosystem and the importance of robust security measures.
