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Thief Snaps Photo of Victim’s Seed Phrase in Apartment, Steals $1.7M in Crypto
A former Singapore Armed Forces (SAF) diver has admitted in court to stealing $1.7 million in cryptocurrency after secretly photographing a seed phrase belonging to a Chinese national living in Singapore. 34-year-old Teo Rong Xuan, who previously served in the military’s Naval Diving Unit, admitted to charges including housebreaking, misusing a computer system and dealing with ill-gotten gains in court on October 1, according to the Straits Times. Seed phrases—typically a sequence of random words—act as the master key to cryptocurrency wallets. Unlike a password, a stolen seed phrase cannot be reset, meaning ... (full story)
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