South Korea’s Lotte Card experienced a significant data breach exposing personal and financial information of about 3 million customers. The incident raises questions about cybersecurity investment and legal compliance, with investigations ongoing. #LotteCard #DataBreach
Keypoints
- Lotte Card’s data breach affected approximately 3 million customers’ personal and financial data.
- The breach was caused by exploiting an unpatched vulnerability in a payments server from 2017.
- Only about 56% of the leaked files were encrypted, and detection of the breach took nearly two weeks.
- Chief Executive Cho Jwa-jin apologized and promised full compensation, pledging reforms.
- The incident has prompted political scrutiny of MBK Partners’ cybersecurity investments and management.
Read More: https://therecord.media/south-korea-probes-credit-card-data-breach