Someone jumped at the opportunity to steal $4.4 million in crypto assets after South Korea’s National Tax Service exposed publicly the mnemonic recovery phrase of a seized cryptocurrency wallet.

The funds were stored in a Ledger cold wallet seized in law enforcement raids at 124 high-value tax evaders that resulted in confiscating digital assets worth 8.1 billion won (currently approximately $5.6 million).

When announcing the success of the operation, the agency released photos of a Ledger device, a popular hardware wallet for crypto storage and management. 

However, the images also showed a handwritten note of the wallet recovery phrase, which serves as the master key that allows restoring the assets to another…