SlowMist warns of pre-hacked cold wallets sold on social media
Crypto investor loses ¥50M after using compromised cold wallet
Cold crypto wallets, pre-configured to steal user assets after deposit, are increasingly appearing on online marketplaces.
Blockchain security firm SlowMist reported a major crypto theft tied to a cold wallet purchased via TikTok through an unofficial source.
One user lost 50 million yuan (around $6.9 million) in digital assets within hours after receiving and funding the device.
The incident was discovered during an emergency response and later confirmed by 23pds, the Chief Security Officer at SlowMist, who successfully tracked the movement of the stolen funds.
The risk of unofficial channels
According to the investigation, the cold wallet had been compromised before it reached the buyer.
The private key associated with the wallet was stolen during the device’s setup process, allowing attackers to access and drain all assets shortly after activation.
The stolen funds were routed through the Huiwang mixing platform, making them virtually untraceable and recovery nearly impossible.
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In response, SlowMist issued a strong warning to crypto investors: avoid purchasing cold wallets from unofficial sources — especially those labeled as "brand new", "unopened", or offered at discounted prices on platforms like TikTok or other social media.
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