The South Korean financial sector recently suffered a serious cyber security incident. The Qilin ransomware group successfully hacked into the systems of 28 Financial Institution Groups by attacking a managed service provider (MSP), stealing more than 1 million files and 2TB of data. The incident was named "Korean Leaks" by the attackers and was carried out in three waves, mainly targeting South Korean asset management companies.
Security experts suspect that the attack may be linked to the North Korean hacking group Moonstone Sleet. When the attackers posted information on the data breach website, they not only demanded a ransom, but also claimed to expose "systemic corruption" and "evidence of stock market manipulation" in an attempt to create a financial marekt in South Korea.
South Korea's financial industry was hit by a massive ransomware attack, with data stolen from 28 institutions
2025-11-27 12:12:20
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