PANews reported on June 14 that 23pds, the Chief Information Security Officer (CISO) of SlowMist Technology, posted on the X platform that a user was suspected of purchasing a tampered "cold wallet" on Douyin, resulting in the theft of about 50 million yuan in crypto assets. The private key was stolen at the moment it was generated, and the funds were transferred through the "Huiwang" platform. 23pds reminded that the purchase of cold wallets must be done through official and formal channels. 99% of the so-called "brand new and unopened" and "special sale" cold wallets on the Internet are fake and may have been tampered with.

In this regard, Yu Xian stated that the incident resulted in the theft of approximately 6.5 million US dollars. Scams related to hardware wallets always trick certain big players into falling for them. This time, the scam revolved around the Ledger hardware wallet.