KakaoTalk Wallets Targeted in Cryptocurrency Hack An executive of a Kakao-affiliated company has filed a lawsuit against Ground X, another Kakao subsidiary, after their cryptocurrency stored in a KakaoTalk wallet was stolen. The stolen funds amount to over 10 billion KRW (approximately $8 million USD). The victim, identified only as "Mr. A," discovered that his KakaoTalk account had been compromised in March 2022. The hacker used a mobile phone registered in Mr. A's name to change his KakaoTalk password and transfer his cryptocurrency assets to overseas exchanges. Kakao Officials Respond with Limited Information A Kakao official acknowledged the incident but stated that Ground X's operations are currently being scaled down, and there is insufficient personnel to provide a detailed response. The official added that they are working to minimize the impact on users. Cryptocurrency Security Concerns Raised This incident highlights the importance of securing cryptocurrency assets, particularly when stored in online wallets such as those offered by messaging platforms like KakaoTalk. Users are advised to enable two-factor authentication, use strong passwords, and be wary of phishing attempts to protect their digital assets. Ongoing Investigation Law enforcement agencies are investigating the hack, and Ground X has reportedly suspended some of its services as a precautionary measure. The outcome of the lawsuit and the full extent of the losses incurred remain to be determined.