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Oh my God, the South Korean Tax Office just lost millions of dollars due to a very silly mistake. They issued a press release in late February about confiscating money from tax evaders, but the disaster is that they photographed the actual Ledger wallet with the recovery phrase handwritten in the same picture without any obfuscation. Literally, they shared the full mnemonic phrase with the world.
The result? About $4.8 million was drained from the wallet within a few hours. 4 million PRTG tokens were transferred to an unknown wallet the next morning. Cybersecurity experts said that the South Korean financial department lacks basic data protection practices, and the result is a direct loss of national assets.
This reflects how dangerous it is to not understand even the minimum security measures for cryptocurrencies, even by government agencies. Just one mistake, and it's over.