š„The Myth of the "Safe" USB: South Koreaās State Custody Crisis š°š·š
Itās becoming a pattern. For the second time in months, South Korean authorities have proven that holding the physical device is only half the battle. 22 $BTC (~$1.5M) was just drained from a cold wallet held by Seoulās Gangnam Police since 2021 - without the USB even leaving the evidence locker.
š”The Failure Points:
ā¾ The "Invisible" Drain: The physical USB remained intact, yet the digital assets were siphoned. This points to a massive breach in either private key management or an inside job.
ā¾ The Domino Effect: This comes right after the Gwangju District Prosecutors lost 320 BTC to a simple phishing site during a routine inspection.
ā¾ The Hard Truth: Cold storage isn't a magic shield; itās a tool. If the human operating it clicks a malicious link or leaks a key, the "cold" status is irrelevant. At a state level, the lack of multi-sig protocols and audited governance is no longer just a lapseāitās a systemic risk.
Bottom Line: Self-custody is about sovereignty, but without rigorous operational security (OpSec), itās just a high-stakes waiting game for hackers. ā#CelebratingNewYearOnGateSquare
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
8 Likes
Reward
8
8
5
Share
Comment
0/400
CSN_NYD
Ā· 15h ago
Nuanced point. A token's fundamental value is its utility within its specific economic system.
Reply0
Hameed_Official
Ā· 19h ago
Cold wallets arenāt invincibleāhuman error still opens the door to millions.
Reply0
Usmanabbasi67
Ā· 20h ago
The issue isnāt the USB, itās the process. When even state actors mishandle keys, it proves custody is about discipline, multi-sig governance, and airtight OpSec. Without that, ācold storageā is just a false sense of security waiting to be exploited.
Reply0
MSMA07
Ā· 02-13 19:04
Cold wallets arenāt invincibleāhuman error still opens the door to millions.
š„The Myth of the "Safe" USB: South Koreaās State Custody Crisis š°š·š
Itās becoming a pattern. For the second time in months, South Korean authorities have proven that holding the physical device is only half the battle. 22 $BTC (~$1.5M) was just drained from a cold wallet held by Seoulās Gangnam Police since 2021 - without the USB even leaving the evidence locker.
š”The Failure Points:
ā¾ The "Invisible" Drain: The physical USB remained intact, yet the digital assets were siphoned. This points to a massive breach in either private key management or an inside job.
ā¾ The Domino Effect: This comes right after the Gwangju District Prosecutors lost 320 BTC to a simple phishing site during a routine inspection.
ā¾ The Hard Truth: Cold storage isn't a magic shield; itās a tool. If the human operating it clicks a malicious link or leaks a key, the "cold" status is irrelevant. At a state level, the lack of multi-sig protocols and audited governance is no longer just a lapseāitās a systemic risk.
Bottom Line: Self-custody is about sovereignty, but without rigorous operational security (OpSec), itās just a high-stakes waiting game for hackers.
ā#CelebratingNewYearOnGateSquare