A report in the United States by the Treasury Inspector General for Tax Administration (TIGTA) exposes the negligence of the Internal Revenue Service (IRS). It demonstrates that the agency is failing in its duty to safeguard $8 billion in bitcoin (BTC) and cryptocurrencies seized since 2017.

The findings reveal operational chaos. This is due to agents who misplaced three hardware wallets and accidentally destroyed a recovery phrase, forcing a costly transfer of funds. #OneBigBeautifulBill