How a Ledger user lost $6.9 million after trusting a sealed wallet from TikTok.

What is the TIKTOK wallet fraud?

The person who bought something similar to the “new selected” devices wallet that was announced on the Chinese version of Tiktok was a victim to theft of $ 6.9 million, and lost all its money in minutes.

Delight call at night to Blockchain SlowMist security company open One of the most destructive cryptocurrencies in 2025. criminals are now taking advantage of the same security services aimed at protecting users from online threats. It is a new sophisticated threat in coding fraud, and frankly, it is worrying that many users see that the devices portfolio are tampered with millions of dollars.

The Sugated Information Security Head was 23pds was the first to inform the case. Unlike the known fraud processes using deceptive emails, unwanted messages, or voice simulation websites, this attack strikes the victim’s safety at the hardware level.

The biggest problem for everyone for encryption users is that there are minimal warning signs for this type of settlement until it is too late.

How is the governor of fake devices penetrated?

The victim has bought what is a legitimate LEDger wallet from the Douyin store, the e -commerce platform inside the Chinese social media version from Tiktok.

For safety, you should never buy unwanted devices wallet if they are at risk. But in this case, the buyer was deceived by the package. It appears to be an authentic factory product, with original 3D stickers and professional finishing. For modest users, there was nothing different or warning about this professor’s book portfolio.

In this case, when the victim has created her new wallet, she works completely normal, generating the usual random recovery term over 24 words. Unfortunately, investigators will eventually determine that this is the moment when the wallet was subjected to risk before selling it.

In fact, the attackers have already determined the secret phrase or endangered the process of generating numbers. This gave them full access to the wallet and its own keys. Therefore, when the money was transferred to the wallet, the attackers were able to drain them immediately.

Unfortunately, the victim deposited about 50 million Chinese yuan ($ 6.9 million) in the portfolio address, believing that everything was safe in cold storage. However, within hours, criminals had emptied the wallet.

Do you know? The value of the global devices portfolio market reached more than $ 460 million in 2024, and is expected to grow to more than $ 3 billion by 2033. This makes the devices wallets, which users strongly trust, is a major goal of the encryption theft.

The path of investigation in the SlowMist Team Crypto team

As stated in the SlowMist X account, the victim submitted an emergency report regarding theft on June 13, 2025.

Slowmist is Blockchain Security Company providing a number of services, including security audits, threat information and business on a large scale in encrypted currency investigations. Its work often extends to large organizations and government agencies.

On this occasion, she managed to track stolen money, and revealed that she was immediately transferred through Huiwang, a dark entity in Cambodia. This process was using a financial network called Huione Group, which runs a “knot to wash the revenue of cybersecurity”, ” According to To the financial crime enforcement network, or FINCEN.

HUIWANG encryption is a common financial step for criminals, as multiple layers of confusion, as well as not laundering money (AML) or your customer control (KYC), makes the recovery almost impossible. Therefore, while Slowmist can track stolen money, there is no great hope for recovery after the cold wallet switch leaks.

Do you know? Tiktok and similar social media platforms are foci of fraud. Frauding ranges from fake investment opportunities, fraud in viral video, unwanted messages, and sales of risk devices – all designed to give up unnecessary users from their hideout.

The problem of stealing the sealed wallet

The cold wallet fraud shows how quickly the fully loss of the encryption hidden in seconds. Sugical Sugom Security Officers, 23pds, Make up On X, the users of the coding should not be “a full wealth on” wallet “a few hundred dollars is cheaper. “This does not save money, it throws your lofty.”

Such incidents are part of a wide increase in fraud in cryptocurrencies that suffer from 2025. The first half of his year visual More than 2.1 billion dollars of encryption losses through attacks at the infrastructure level.

Other advanced security wallet processing is another advanced security vulnerability that must be encrypted with it. Regardless of the extent of the emergence of a “legal” portfolio, this situation highlights the importance of buying new devices completely from suppliers. It is important to avoid other sources, especially debit or market platforms.

Security experts have also identified multiple methods that criminals can give up more devices governor:

• Fixed program modification: The attackers replace the legitimate fixed programs with harmful versions of special keys.
• Manual replacement: Criminals include fake preparation instructions that direct users to pre -created addresses.
• The supply chain infiltration: The governor is intercepted and modified during charging or retail distribution.
• Fake manufacturing: Complete the fake devices that mimic the governor of the legitimate devices.

Do you know? Even one of the largest encryption companies in the world, Coinbase, is vulnerable to electronic attacks, as the company recently admitted that criminals had reached data used to deceive people to deliver them. The criminals demanded $ 20 million to keep calm, but they refused to pay and promised to recover anyone who was deceived.

How to protect against fraud on the escape of devices

Since the cryptocurrency industry is more than $ 3 trillion, it has become an attractive target for criminals, especially devices, as users in these devices trust storing important money for long periods of time.

This means that users need to take precautions to purchase an encryption wallet safely and protect against stealing the private key:

• Packaging contradictions: Ultrasound vertebral wallet packaging is used in conjunction with tampering seals. The devices granted with glue, lost external security package, or before the wealthy are major red flags.
• Cheap prices: Governor, which is sold at less than the official retail price, especially on social media platforms or through informal channels, is likely to be fake or at risk.
• In advance information: Any wallet that comes with prior pins, recovery phrases or preparation instructions must be destroyed immediately.
• Unofficial markets and retailers: Buying from anywhere other than the official website of the manufacturer increases the risk.