Financial News

  • 27 August 2014, 0:59

Private Data Of 27 Million Web Users Stolen

The private data of more than half the people living in South Korea has been compromised in a series of major hacking attacks.

A 24-year-old - known only by his surname Kim - is reported to have received 220 million data records of 27 million people.

The Korea Joongang Daily said a cache of login credentials for online services and games was given to Kim by a Chinese hacker he met in an online game forum in 2011.

Using the information, Kim reportedly hacked several online services including websites selling items ranging from ringtones to cinema tickets.

Stolen personal information records - including bank details - were then sold to mortgage fraudsters and illegal gamblers for less than the equivalent of 20 pence each.

In total he made the equivalent of 235,000 before giving a cut to the Chinese criminal.

Some 16 people, including Kim, have been arrested but police continue to hunt seven other suspects.

Detectives are also investigating which of the compromised data records are still circulating.

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