$60M drained from USMS crypto relevant wallet.

[satscraper]

Judging this news government linked crypto wallets also appear vulnerable in the sence that their security is not enough to prevent the fund they hold  from ending up in hackers’ hands.

The article suggests that the point of failure in this case may have been the family‑run contractor that assisted "the USMS in managing and disposing of seized or forfeited crypto assets". This contractor likely did not maintain adequate security for the relevant private keys and made some lapses which allowed hackers to access the seized assets.

It seems incredibly unwise to me to approve the family related business to manage wallets of this kind.

[coinlary]

Hacker?
That's john daghita aka "Lick"  and " Dean Daghita, president of CMDSS, happens to be John Daghita's father.". That should be clear enough that it was just a son using  the private key carelessly stored by his father.
There's a recent thread about it John Daghita Son to a USA service man Steals $40m from nation's bitcoin, why do I feel like it's  getting twisted

The article suggests that the point of failure in this case may have been the family‑run contractor that assisted "the USMS in managing and disposing of seized or forfeited crypto assets". This contractor likely did not maintain adequate security for the relevant private keys and made some lapses which allowed hackers to access the seized assets.

So who was this contractor?

[7juju]

If not that the hackers were bragging about this online, so they person managing the government wallet never knew that such an amount left the wallet that is under his management? That's very suspicious, because if you don't notice such an amount left a wallet under your care, what then are you managing? Or could it be something they planned together, or the man knew about it and decided to keep quiet, since the article said the person managing the asset is related to the suspect?

[henry_of_skalitz]

As I remember, there was a thread already regarding this exact case...

It shows us again why we shouldn't trust institutions that much and always be aware of such things having a probability of happening.

[Aanuoluwatofunmi]

Any custodial means we adopt to hold our bitcoin is at our own risk, because they can do nothing in preventing us from being attacked by any way, this is why we often advises on learning bitcoin and its network, wallet and other security measures as the first priority to do when it comes to digital currency, what we know and how we go about it is our first security in crypto, because we cant afford to do the wrong and yet expect the best to come in for us, hack and scam is real.

[hero_the_bossman]

Pride and greed.

Maybe even arrogance.

All of these sins manifesting in a situation like that.

Makes you wonder what they will do to mark this case off and how long it will take them to do so

[Ivystar5]

Hacker?
That's john daghita aka "Lick"  and " Dean Daghita, president of CMDSS, happens to be John Daghita's father.". That should be clear enough that it was just a son using  the private key carelessly stored by his father.
There's a recent thread about it John Daghita Son to a USA service man Steals $40m from nation's bitcoin, why do I feel like it's  getting twisted

I think it has become more funny than I thought of it because basically it's the son that is making mistakes or he believes his father is the owner of all the wealth in bitcoin and then he just have to take his share early enough but of course everything is sounding like it's not real, but it could be that news outlets are trying to put food on their table by twisting everything.

Well do they have to stress in looking for the hacker according to what they called it, they would just have to pick up the son and father for questioning.

[acroman08]

The moron possibly ruined his father's reputation(or maybe the father was part of the plan). How stupid did he have to be to brag about what he did.

As I remember, there was a thread already regarding this exact case...

Are you talking about this thread John Daghita Son to a USA service man Steals $40m from nation's bitcoin?

[nakamura12]

The moron possibly ruined his father's reputation(or maybe the father was part of the plan). How stupid did he have to be to brag about what he did.

As I remember, there was a thread already regarding this exact case...

Are you talking about this thread John Daghita Son to a USA service man Steals $40m from nation's bitcoin?

It may be a cover up by someone or even a family member (don't know if it's true) or maybe it's really true what the article says. This would really ruin his father's reputation especially when it comes to position like that and even holding a lot of seized bitcoin. We will know soon enough if there will be any updates about the case. It is also possible that the information might not be all of it and some are being keep away from public.

[Donneski]

My take away lesson from this particular case is that even “trusted” custodians can make very costly mistakes. Whether it’s a government wallet or an exchange, the risk is always there when control sits in someone else’s hands. It really reinforces why personal responsibility and proper self-custody matter so much in Bitcoin.

Big institutions can have big budgets but one weak link in key management can still bring everything down. At the end of the day, the safest setup is the one where you hold your own keys and understand your own security.

[coupable]

The moron possibly ruined his father's reputation(or maybe the father was part of the plan). How stupid did he have to be to brag about what he did.

As I remember, there was a thread already regarding this exact case...

Are you talking about this thread John Daghita Son to a USA service man Steals $40m from nation's bitcoin?

It may be a cover up by someone or even a family member (don't know if it's true) or maybe it's really true what the article says. This would really ruin his father's reputation especially when it comes to position like that and even holding a lot of seized bitcoin. We will know soon enough if there will be any updates about the case. It is also possible that the information might not be all of it and some are being keep away from public.

The hack is worth millions of dollars. If it's proved to be an inside job without the authority being able to accuse anybody directly, the father won't hesitate to get rid of his reputation for 60$ millions. I guess the father and the son are both involved in an inside job.
From another perspective, how seized funds are saved in this fragile way? It's strange that large sums of cryptocurrencies can be vulnerable to thefts and hacks in this easy way.