Home BlockchainEthereum Tokens Swiped, Returned After South Korean Tax Service Publishes Wallet Seed Phrases

Ethereum Tokens Swiped, Returned After South Korean Tax Service Publishes Wallet Seed Phrases

by Decrypt
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Ethereum Tokens Swiped, Returned After South Korean Tax Service Publishes Wallet Seed Phrases

In brief

  • The South Korean National Tax Service (NTS) shared seed phrases from seized crypto wallets in a press release.
  • The contents of the wallets—valued around $4.8 million at face value—were then swiped, but returned.
  • The token was highly illiquid, and the perpetrator would not have been able to get anywhere near the face value.

The first rule of self-custodying crypto is that you do not tell anyone your seed phrase—a set of 12 or 24 words that unlocks the private key to the wallet, therefore…

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