Crypto User Loses $6.9M After Buying Compromised Wallet on Douyin

After unknowingly buying a compromised cold wallet on Douyin, the Chinese counterpart of TikTok, a crypto investor lost a staggering amount of about $6.9 million, with SlowMist, a blockchain security company, providing the statement. It also highlights the growing concern regarding counterfeit hardware wallets being pushed through online unauthorized platforms.