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South Korean Arms Industry Urged to Prepare for Cyberattacks

South Korean Arms Industry Urged to Prepare for Cyberattacks

SEOUL, Jul. 5 (Korea Bizwire) — Industry experts are warning the South Korean arms industry to ramp up security in preparation for growing cyberattacks in the coming years, while a number of industry sources say some of the previous attacks could have been state-sponsored. Similarities found between previous cyberattacks against the South Korean arms industry over [...]

Hackers Threaten Banking Institutions With DDoS Attacks

Hackers Threaten Banking Institutions With DDoS Attacks

SEOUL, June 27 (Korea Bizwire) – Hackers who threatened to launch a distributed denial-of-service attack (DDoS) made good on their promise by attacking a number of South Korean banking institutions on Monday. According to the Financial Supervisory Service (FSS), a hacker group called the Armada Collective targeted the Korea Financial Telecommunications & Clearings Institute (KFTC), [...]

South Korean Web Hosting Company Gives In to Ransomeware Hackers

South Korean Web Hosting Company Gives In to Ransomeware Hackers

SEOUL, Jun. 15 (Korea Bizwire) — South Korean web hosting site Nayana Communication has struck a deal with ransomeware hackers to pay over 1 billion won to bail the company out of its predicament after losing access to data that hackers encrypted. The South Korean web hosting provider released a statement yesterday, acknowledging a deal they [...]

Businesses Take More Than 3 Months to Identify Cyberattacks

Businesses Take More Than 3 Months to Identify Cyberattacks

SEOUL, May 22 (Korea Bizwire) – With the global financial losses from the WannaCry ransomware attack estimated at $4 billion, according to cyber risk analysis firm Cyence, another study by Mandiant, a FireEye company, has revealed that it typically takes more than three months for businesses to acknowledge that there has been a cyberattack.  Based [...]

Cybercrime Threats Grow with Pokémon GO Frenzy

Cybercrime Threats Grow with Pokémon GO Frenzy

SEOUL, Feb. 7 (Korea Bizwire) – Last month’s Korean launch of Niantic’s Pokémon GO has put law enforcement agencies on high alert, mainly against trespassing and Pokémon GO driving, and officials are now advising players to also take heed against cybercrimes.  According to the Korean National Police Agency, extra apps that can help players to [...]

Cyber Attacks on Gov’t Agencies, Ransomware Programs to Rise in 2017: Report

Cyber Attacks on Gov’t Agencies, Ransomware Programs to Rise in 2017: Report

SEOUL, Dec. 5 (Korea Bizwire) – More cyber attacks on key government agencies and social infrastructure-related facilities, coupled with increased ransomware programs for mobile and desktop computers, are likely to take place next year, a state-run agency said Monday.  According to the Korea Internet & Security Agency (KISA), a series of cyber attacks may occur [...]