Shocking $6.5 Million Crypto Heist: User Falls Victim to Compromised Cold Wallet Bought on TikTok China

Seemingly Secure Wallet Drains Millions in Hours

Holy smokes! Some unlucky soul just got slammed for a whopping $6.5 million in crypto, all because they snagged what they thought was a sweet deal on a cold wallet through Douyin, China's TikTok. Blockchain security gurus at SlowMist spilled the beans on X, revealing that this wallet, despite looking all factory-sealed and legit, had its private key hijacked right from the get-go. Within hours of the user transferring their hard-earned crypto, the whole stash was swiped clean!

SlowMist's Dire Warning

"Steer clear of those 'Factory sealed' or 'Discounted cold wallets'—99% of them are rigged!" SlowMist blasted this warning loud and clear. It's like playing Russian roulette with your life savings!

Echoes of a Past Scam

This nightmare sounds eerily similar to that Trezor Model T fiasco that Kaspersky dug into back in 2023. A slick, seemingly untouched wallet turned out to be a wolf in sheep's clothing, stuffed with tampered firmware and pre-set seed phrases. The poor sap who bought it got drained weeks later, all thanks to a shady online seller pushing it as new and factory-sealed. Talk about a gut punch!

Friend of the Victim Speaks Out

User @hella, who says they're tight with the victim, dropped the bombshell that even though SlowMist's on the case, tracing those stolen funds, the chances of getting any of it back? Slim to none. "Stick to trusted channels when you're buying a cold wallet. The internet's crawling with fakes," @hella warned.

The Dark Path of Stolen Funds

And get this—once the crypto was snatched, it got washed through a laundering network that's rumored to be tied to Huiwang. That's the Cambodian big shot behind Haowang Guarantee, a massive, Telegram-run black market that's been laundering crypto like it's going out of style. Even though they supposedly got shut down and booted off their old channels, they're back with a vengeance under a new domain, cranking up the volume on their shady dealings. Chainalysis says their transactions are booming since FinCEN pegged Huione Group as a major money laundering headache.