Between September 28 and October 3, nine South Korean banks, including the five largest in the country, were targeted by a series of cyberattacks. More than 67,500 cases of data leaks were recorded, according to the Seoul Shinmun newspaper. The suspect is Artex, a Chinese AI platform, whose traces were found on IP addresses used during the attacks, which suggests that at least six of them could have been carried out by the same actor. Among the targets were the service used for client recruitment for loans at the Shinhan Bank, commercial support systems, and a page allowing intermediaries to view mortgage loan applications.
In developing their business networks, banks have neglected the implementation of security measures adapted to AI, criticized the Hankook Ilbo newspaper. The expansion of digital financial services, with banking apps and remote loans, raises concerns about the multiplication of systems connected to external services, and thus an increase in potential targets for cyberattacks, warned the newspaper. Protective measures have become urgent. These risks had already been identified by financial authorities and were even classified as priorities in terms of security in a directive issued in July, noted another article from the Hankook Ilbo. It specifically identified systems directly exposed to external internet networks as vulnerable. Less than two months later, these vulnerabilities were precisely exploited.
In response to the risk of increasing attacks, protective measures have become urgent, warned the specialized electronics and tech newspaper Jeonja Shinmun. According to EverSpin, a South Korean cybersecurity company, it is necessary to increase the cost of the attack. The company replicated an attack using the AI tool Artex, which completed the assigned task in twenty-two seconds only, for a cost of approximately 0.88 dollar [0.78 euro]. According to the company, rather than trying to limit the services exposed to the internet, it would be better to block all automated requests that could be generated by an AI, in order to sufficiently increase the cost of the attack so that hackers would abandon on their own.
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South Korean Banks Targeted in Cyberattacks Attributed to Chinese AI Platform
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