South Korean financial institutions have been hit this week by a fresh wave of cyberattacks, with brokerages and a crypto exchange reporting incidents and one firm disclosing that the personal information of 38,490 customers was exposed. The country's financial regulator has called for stronger security measures.
Daishin Securities reported a cyberattack that exposed the personal information of 38,490 customers, including names, email addresses and mobile phone numbers, according to local media. The company has notified affected customers, is cooperating with authorities in the investigation, and will compensate for any losses as required by law.
Asset manager Mirae Asset Global Investments and crypto exchange Bithumb reported separate cybersecurity incidents on Wednesday, according to local media, though neither has confirmed that customer data was taken.
The latest incidents come roughly a month after a series of cyberattacks targeting South Korean financial institutions. Security researchers linked the September wave to a suspected China-based hacker who relied on an AI penetration testing tool called Artex, though officials are still investigating the root cause of the latest breaches.
South Korea's financial regulator has called for stronger cybersecurity measures following a string of attacks on financial firms and government agencies, and the country plans to conduct security checks on dozens of IT systems in the private sector.
The previous day, Japan reported a cybersecurity incident involving GMO Internet, following a series of attacks on its financial institutions. The wave of cyberattacks across Asia underscores growing cybersecurity challenges in the region, often the result of years of weak cybersecurity, though investigators have not established a connection between the incidents.
The Financial Services Commission, Daishin Securities, Bithumb and Mirae Asset Global Investments did not immediately respond to requests for comment.
Analysis
Why This Matters
- The breach exposed names, email addresses and mobile phone numbers of 38,490 customers of Daishin Securities, data that can be used for phishing and fraud.
- The targets now include brokerages and a crypto exchange, not just banks, and follow a September wave, pointing to persistent vulnerabilities across the financial sector.
- Researchers linked the earlier attacks to an AI-assisted hacking tool, raising questions about the growing sophistication of cybercrime in Asia.
- South Korea plans security checks on dozens of private-sector IT systems, and the regional pattern extends to Japan, though investigators have not connected the incidents.
Background
South Korea has one of the world's most digitally connected financial systems, with online banking and cryptocurrency trading widely used, making its institutions a frequent target for hackers. The September attacks on South Korean financial institutions were linked by security researchers to a suspected China-based hacker using the AI penetration testing tool Artex, but the root cause of the latest breaches is still under investigation.
What to Watch
- Whether investigations show that customer data was taken from Mirae Asset Global Investments and Bithumb, which have not confirmed any theft.
- The findings of South Korea's planned security checks on dozens of private-sector IT systems.
- Whether officials establish any link between the current wave and the September attacks, a connection investigators have not yet made.
- How Daishin Securities handles its promised compensation for affected customers.
Checked
12 claims in this story checked against 1 source: 11 supported.
Show each claim
- SupportedA fresh wave of cyberattacks has hit South Korean financial firms.TechCrunch: “South Korea’s financial institutions have been hit by another wave of cyberattacks”
- SupportedDaishin Securities reported that personal information belonging to 38,490 customers was exposed.TechCrunch: “Daishin reported a cyberattack that exposed the personal information of 38,490 customers”
- SupportedSouth Korea’s financial regulator called for stronger cybersecurity measures.TechCrunch: “South Korea’s financial regulator has called for stronger cybersecurity measures”
- Partly supportedThe wave hit South Korean financial institutions “this week.”TechCrunch: “South Korea’s financial institutions have been hit by another wave of cyberattacks”
- SupportedThe exposed information included customers’ names, email addresses and mobile phone numbers.TechCrunch: “including names, email addresses, and mobile phone numbers”
- SupportedDaishin notified affected customers, is cooperating with authorities and will compensate for losses as required by law.TechCrunch: “The company has notified affected customers, is cooperating with authorities in the investigation, and will compensate for any losses as required by law.”
- SupportedMirae Asset Global Investments and Bithumb reported separate cybersecurity incidents on Wednesday.TechCrunch: “Mirae and Bithumb reported separate cybersecurity incidents on Wednesday”
- SupportedNeither Mirae Asset Global Investments nor Bithumb confirmed that customer data was taken.TechCrunch: “though neither has confirmed that customer data was taken.”
- SupportedSecurity researchers linked the September attacks to a suspected China-based hacker who relied on the Artex AI penetration testing tool.TechCrunch: “Security researchers linked the September wave of attacks on South Korea to a suspected China-based hacker who relied on an AI penetration testing tool called Artex”
- SupportedOfficials are still investigating the root cause of the latest breaches.TechCrunch: “officials are still investigating the root cause of the latest breaches.”
- SupportedSouth Korea plans security checks on dozens of private-sector IT systems.TechCrunch: “The country also plans to conduct security checks on dozens of IT systems in the private sector.”
- SupportedJapan reported an incident involving GMO Internet the previous day.TechCrunch: “Yesterday, Japan reported a cybersecurity incident involving GMO Internet”
