Crypto Investor Loses $6.9 Million To Sketchy Cold Wallet
A crypto user has reportedly lost nearly $7 million in crypto after buying a discounted cold wallet through the Chinese version of TikTok, Douyin, which turned out to be compromised.
Blockchain security firm SlowMist said in a X post on Saturday that the “private key was compromised at creation” and the user’s funds were “drained within hours” from the compromised cold wallet.
Nabbing a bargain cold wallet might seem like a good way to save money, but SlowMist said cold wallets advertised as “factory sealed” or “discounted” have often been tampered with, and the reduced price is a way to lure in victims.
Douyin has an e-commerce feature, the Douyin Shop, which allows third-party sellers to offer…
