South Korean Cryptocurrency exchanges face persistent cyberattacks

North Korea are consistently launching cyberattacks against South Korean cryptocurrency exchanges.
  • While digital currency prices have been soaring in South Korea this year due to fears of North Korean aggression, so too has the frequency of cryptocurrency-based malware attacks been on the rise.
  • According to Korea Internet & Security Agency (KISA), 5,366 cases of damage from ransomware were reported from January to September of this year, up almost fourfold from 1,438 in the same period last year.
  • Reported malware cases from July to September increased to 452 from 436 in the previous quarter. Among them, 347 were ransomware and 44 sought to steal personal information.
  • A threat group, thought to be from North Korea, last summer attempted to spy on South Korean bitcoin exchanges by planting malware of the desktops of staff members.
  • A new phishing scam is doing the rounds in South Korea, whereby fake emails claim to be from Korbit, of the leading cryptocurrency exchanges in the country. The email attachment contains viruses.
  • “Hackers are boldly spreading malicious code not only to hunt for bitcoins but to directly attack Internet sites,” a KISA official warned. “Such attacks are likely to continue.”

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