Kim and his 2 billion won: Massive data breach affects half of South Korean citizens

Edge of KeyboardAccording to sources, 16 people have been arrested after 220 million records were stolen, including real names, account names, passwords and resident registration numbers.

It is said that one of those arrested, ‘Kim’, obtained all 220 million records from a Chinese hacker he met through an online game three years ago. With this stolen data, it is believed Kim then logged into the compromised online gaming accounts to steal game currency, which he then allegedly exchanged for real cash – 400 million won (US$393,000), in fact.

Authorities believe Kim then went on to sell this personal information to other third parties, including mortgage fraudsters and illegal gambling advertisers. These secondary damages have been estimated at 2 billion Won (US$1.965M).

Police are still searching for seven other suspects, including the hacker who allegedly gave Kim access to the millions of records.