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Analyze » Financial Supervisory Service » FIN1764576187

Incident Score: Analysis & Impact (FIN1764576187)

The details regarding individual company incidents & reports gives you full view from every side.

Rankiteo Score Impact Analysis

Rankiteo Incident Impact-112
Company Score Before Incident835 / 1000
Company Score After Incident723 / 1000
Company LinkView Financial Supervisory Service Profile
INCIDENT NUMBERFIN1764576187
Type of Cyber IncidentBreach
ATTACK VECTORNA
DATA EXPOSED33 million users' personal information...
INCIDENT DATE31/03/2025
STATUSOngoing (regulatory discussions and potential legal amendments in progress)

Key Highlights From The Incident Analysis

  • Timeline of Financial Supervisory Service's Breach and lateral movement inside company's environment.
  • Overview of affected data sets, including SSNs and PHI, and why they materially increase incident severity.
  • How Rankiteo’s incident engine converts technical details into a normalized incident score.
  • How this cyber incident impacts Financial Supervisory Service Rankiteo cyber scoring and cyber rating.
  • Rankiteo’s MITRE ATT&CK correlation analysis for this incident, with associated confidence level.

Full Incident Analysis Transcript

In this Rankiteo incident briefing, we review the Financial Supervisory Service breach identified under incident ID FIN1764576187.

The analysis begins with a detailed overview of Financial Supervisory Service's information like the linkedin page: https://www.linkedin.com/company/financial-supervisory-service, the number of followers: 0, the industry type: Government Administration and the number of employees: 360 employees

After the initial compromise, the video explains how Rankiteo's incident engine converts technical details into a normalized incident score. The incident score before the incident was 835 and after the incident was 723 with a difference of -112 which is could be a good indicator of the severity and impact of the incident.

In the next step of the video, we will analyze in more details the incident and the impact it had on Financial Supervisory Service and their customers.

On 20 November 2023, Upbit disclosed Data Breach, Cryptocurrency Theft and Cyberattack issues under the banner "Major Data Breaches and Cryptocurrency Hack in South Korea Affecting Upbit and Coupang".

Financial authorities in South Korea are pushing for legal amendments to strengthen system security following recent high-profile breaches.

The disruption is felt across the environment, and exposing 33 million users' personal information (Coupang), 23 million mobile users' SIM card information (SK Telecom) and Personal information (Lotte Card, exact number unspecified), with nearly ['33 million (Coupang)', '23 million (SK Telecom)', 'Unspecified (Lotte Card)'] records at risk, plus an estimated financial loss of 44.5 billion won (~$30.4 million) (Upbit).

Formal response steps have not been shared publicly yet.

The case underscores how Ongoing (regulatory discussions and potential legal amendments in progress), teams are taking away lessons such as System security must be treated as a core investment for corporate survival. Regulatory frameworks need strengthening to address gaps in consumer protection, particularly in data security, and recommending next steps like Enhance regulatory oversight and penalties for security breaches, Implement stricter data protection measures across industries and Invest in proactive cybersecurity infrastructure to mitigate risks from state-sponsored and financially motivated threat actors.

Finally, we try to match the incident with the MITRE ATT&CK framework to see if there is any correlation between the incident and the MITRE ATT&CK framework.

The MITRE ATT&CK framework is a knowledge base of techniques and sub-techniques that are used to describe the tactics and procedures of cyber adversaries. It is a powerful tool for understanding the threat landscape and for developing effective defense strategies.

MITRE ATT&CK® Correlation Analysis

Rankiteo's analysis has identified several MITRE ATT&CK tactics and techniques associated with this incident, each with varying levels of confidence based on available evidence. Under the Initial Access tactic, the analysis identified Valid Accounts: Cloud Accounts (T1078.004) with moderate to high confidence (70%), supported by evidence indicating hacking of 44.5 billion won in cryptocurrency at Upbit (cloud/crypto exchange) and Exploit Public-Facing Application (T1190) with moderate confidence (60%), supported by evidence indicating data breach at Coupang affecting over 33 million users (likely web app exploitation). Under the Credential Access tactic, the analysis identified Unsecured Credentials: Credentials In Files (T1552.001) with moderate confidence (50%), supported by evidence indicating sIM card information of 23 million mobile users hacked (implies credential/material theft). Under the Collection tactic, the analysis identified Data from Local System (T1005) with high confidence (90%), with evidence including 33 million users personal information (Coupang), 23 million mobile users SIM card information (SK Telecom), and personal information (Lotte Card). Under the Exfiltration tactic, the analysis identified Exfiltration Over Alternative Protocol: Exfiltration Over Unencrypted/Obfuscated Non-C2 Protocol (T1048.003) with moderate to high confidence (80%), supported by evidence indicating data exfiltration such as Yes (confirmed for Coupang, SK Telecom, Lotte Card) and Automated Exfiltration (T1020) with moderate to high confidence (70%), supported by evidence indicating large-scale breaches (33M Coupang, 23M SK Telecom) suggest automated data extraction. Under the Impact tactic, the analysis identified Data Encrypted for Impact (T1486) with lower confidence (30%), supported by evidence indicating no direct evidence, but cryptocurrency theft (Upbit) may involve disruptive techniques and Data Theft for Extortion (T1659) with high confidence (90%), with evidence including identity theft risk such as High (personal data of millions exposed), and north Korea-linked (Upbit) (state-sponsored actors often use extortion). Under the Lateral Movement tactic, the analysis identified Remote Services: SSH (T1021.004) with lower confidence (40%), supported by evidence indicating no direct evidence, but large-scale breaches (e.g., SK Telecom) suggest internal network traversal. Under the Defense Evasion tactic, the analysis identified Indicator Removal: File Deletion (T1070.004) with moderate confidence (50%), supported by evidence indicating no direct logs, but state-sponsored actors (Upbit) typically clear traces and Impair Defenses: Disable or Modify Tools (T1562.001) with moderate confidence (50%), supported by evidence indicating system security... relatively lacking implies defenders may have been bypassed. These correlations help security teams understand the attack chain and develop appropriate defensive measures based on the observed tactics and techniques.

Sources & References