A large trap targeting cryptocurrency investors on TikTok! Be careful with these things

23pds, Chief Information Security Officer (CISO) of the cryptocurrency security company SlowMist, revealed a major cryptocurrency theft that came to light through an emergency call at night.

According to gathered information, approximately 50 million yuan (about 6.9 million USD) worth of cryptocurrency was stolen overnight through a cold wallet purchased by an investor on TikTok.

There are reports that the private key of the wallet was compromised while it was still being created. After the theft, the digital assets were quickly erased from a platform named Huiwang, and all traces were lost.

23pds warned investors about fake hardware wallets in a statement following the incident. The statement noted that 99% of devices sold online under the names "new, unopened" or "special campaign" could be fake and may have been tampered with beforehand.

The security expert emphasized that investors should only buy cold wallets through official and trusted channels.

Many listings on social media are selling wallets at slightly lower prices than the value of the assets inside, and most of these listings target gullible investors.