Cyber attack hits South Korean government institution, $135,000 lost

According to Korean media reports, the Institute for Startup Promotion, operating under the Ministry of SMEs and Startups, transferred 175 million won (135,000 USD) to an overseas criminal group after being tricked by a sophisticated e-mail phishing scheme.

The unfortunate event serves as a stern reminder of the increasing need for enhanced cybersecurity measures in both public and private sectors.

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