South Korea will investigate the incident of leaked cryptocurrency photo mnemonic phrases that caused a loss of 4.8 million dollars to the tax authorities

The National Tax Service of South Korea has apologized after a raid revealed original photos containing hardware wallet recovery phrases, leading to the theft of $4.8 million in cryptocurrency. The National Tax Service stated that it failed to recognize the inclusion of sensitive information when providing photos from the raid.

Currently, the National Tax Service has requested police intervention to recover the assets and plans to conduct a comprehensive review of the security system and virtual asset management manual. South Korean Deputy Prime Minister and Minister of Economy and Finance Koo Yun-cheol posted on the X platform that institutions such as the Financial Services Commission and the Financial Supervisory Service will investigate this leak and strengthen the regulation of public institutions managing digital assets.