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Hacking & intrusion

PayHub hack diverts about 200 million won in merchant settlement funds

First reported · Last reported · 10 related reports

About 200 million won in merchant settlement funds was fraudulently transferred in a hack at payment gateway provider PayHub. The company discovered the loss during an internal check for access from IP addresses linked to financial-sector hacking. Exploitation of a vulnerability in the payment and transfer request API is suspected, while the Financial Supervisory Service (FSS) has extended its on-site inspection and the Financial Security Institute (FSI) is investigating the incident.

Key facts

Affected organization
PayHub
Incident type
Hacking & intrusion
Occurred / detected
Not confirmed
Scale of damage
About 200 million won in merchant settlement funds fraudulently transferred
Cause / method
Suspected exploitation of a vulnerability in an external payment and transfer request API
Location
South Korea

Timeline

  1. The fraudulent transfer of about 200 million won at PayHub, an on-site inspection by the Financial Supervisory Service (FSS), and an investigation by the Financial Security Institute (FSI) were disclosed.
  2. The Financial Supervisory Service (FSS) extended its on-site inspection to further establish the circumstances of the incident.

10 related reports

The summary and key facts are written by AI from related reports and may contain errors. Check the original articles and the organization’s official statements for accurate details.