A crypto user has reportedly lost nearly $7 million in crypto after buying a discounted cold wallet through the Chinese version of TikTok, Douyin, which turned out to be compromised. Blockchain security firm SlowMist said in a X post on Saturday that the “private key was compromised at creation” and the user’s funds were “drained within hours” from the compromised cold wallet. Nabbing a bargain cold wallet might seem like a good way to save money, but SlowMist said cold wallets advertised as “factory sealed” or “discounted” have often been tampered with, and the reduced price is a way to lure in victims. {tweet} ... (full story)