Seoul Police Dismantle International Hacking Ring Stealing $28.1 Million from Wealthy Targets

Seoul police dismantled an international hacking group, arresting 16 members who stole over $28 million from high-profile individuals, including crypto investors and celebrities.

VIRTUAL

201d ago

Summary

South Korean authorities arrested 16 members of an international hacking group that stole $28.1 million from the personal accounts of 258 high-profile individuals, including crypto investors and celebrities. The hackers exploited poorly secured websites and bypassed authentication systems, prioritizing wealthy targets. Among the victims was BTS member Jungkook, whose attempted theft was thwarted. Police recovered $12.8 billion in assets while continuing their investigation.

Terms & Concepts

SIM-Swap Fraud: A type of fraud where hackers swap the victim’s SIM card to gain access to their accounts, bypassing security measures such as two-factor authentication.
Non-Face-to-Face Authentication: An authentication method that relies on digital or remote verification processes, often exploited in cybercrimes due to its vulnerability to manipulation.