Microsoft Security Expert says Cyber Criminals now Targeting Korea

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Microsoft Korea has urged individuals and businesses in the region to adequately protect their computers and other devices against new cyber attacks such as supply chain compromises, cryptojacking, and phishing attacks, by regularly backing up their data on cloud platforms and keeping security software as well as operating systems up to date, reports The Korea Times on April 22, 2019.

Growing Cyber Attack Threats

Per sources close to the matter, Microsoft Korea has revealed that the rate of cyber attacks such as supply chain software security breaches, cryptojacking, and phishing attacks has significantly increased in recent times and as such, people need pay closer attention to their Internet-enabled systems.

Specifically, the Korean arm of the tech giant has hinted that though the number of cyber attacks in South Korea has been relatively low as compared to other parts of the world, it is, however, crucial for residents to regularly update their security software, while also keeping a backup of important files in cloud storage.

Present at a media conference in Seoul on April 22, Kim Gwi-ryun, a security program manager at Microsoft Korea, used the opportunity to announce the release of the annual Microsoft Security Intelligence Report.

According to Gwi-ryun, the firm analyzed more than 6.5 trillion security signals in 2018 and discovered that supply chain breaches have gained grounds in the industry in the last few years, with the rate of phishing attacks also increasing by 250 percent last year.

Microsoft Korea also noted that it discovered several cases of cryptojacking during its security analysis.

Cryptojacking is an attack whereby hackers infect the computer of unsuspecting victims remotely, with the sole intent of using the person’s computer resources to mine for altcoins like Monero (XMR).

Though the primary aim of bad actors engaged in cryptojacking is to enrich themselves with the ill-gotten digital currency, Gwi-ryun has reportedly stated that an attacker can also decide to use the malware installed on a victim’s computer to carry out other malicious operations.

Microsoft Korea has urged organizations to use robust cloud computing services to carry out automatic backups and also implement network segmentation. Individuals have also been encouraged to install the latest versions of licensed anti-virus software.

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