According to a recent shareholder letter from…
23 out of 50 stores were unable to function regularly in the NC Department Store and New Key Outlets, resulting in deaths from overseas ransomware…
Sunday, 22 November 2020, 10:50 GMT
Cyber threats such as ransomware must also react from the viewpoint of physical and economic crimes leading to domestic business disruption.
Because of ransomware threats, the business disruption of offline shops has become a fact. On the 22nd, E-Land Company reported that it was targeted by ransomware and halted the operation of around half of the offline shops of E-Land, such as NC department stores.
Much ransomware locks the device and forbids the PC, or substantial data inside, from being used. Since encrypting it in a complicated manner, it is a kind of cybercrime that needs a certain sum of money to be spent to solve it. As a prisoner, it takes a device and charges a ransom. It is assumed in this case that the internal network infrastructure of E-Land Company was compromised with ransomware spread overseas.
The company’s network infrastructure was struck by ransomware at the dawn of the 22nd, according to an E-Land Group official, and the recovery operation was hampered, rendering it impossible for 23 out of 50 stores in NC department stores and New Core Outlets to run normally. In several stores, it was discovered that the ransomware-infected device was connected to POS terminals, impacting 23 NC department stores and New Core Outlet stores. For this cause, without learning the English language, customers who visited certain shops went to return.
“E-Land Group said, “Currently, recovery is in progress while researching the delivery route of ransomware.” It is known that the Seoul Metropolitan Police Agency’s Cyber Investigation Division is currently investigating the situation.
As of 2020, ransomware is the world’s most prevalent form of cybercrime. According to a survey undertaken by consultancy firm Kroll, ransomware is by far the first of the numerous cyber challenges marked by 2020. As of September 1, 2020, a third of all cyber attacks were linked to ransomware, according to Kroll.
As such as malware has been on the rise this year, offline cybercrime has also been affected. In fact, a patient died as a result of a ransomware attack targeting hospitals in Germany this year. The general hospital operated by the University of Dusseldorf, Germany, was paralyzed by a hacker’s ransomware attack and this resulted in the death of a female patient who needed immediate care when moving the patient to another hospital. Next, there was an unusual event in Korea in which offline shops were closed because of ransomware attacks.
In addition, in recent years, the harm is rising exponentially as ransomware hacker organisations move their targets from people to enterprises. As major corporations representing Korea have now become targets for ransomware, core technology and key data that have been developed by Korean companies for a long time have been leaked to the outside, or have caused tremendous harm to real sales, as in the case of this E-Land company.
It is also a shared opinion of security analysts that malware cases such as ransomware need not be treated solely from a cybercrime viewpoint. In addition to the viewpoint of physical criminals that would affect the lives of individuals, the perspective of economic crimes that decide the success and collapse of corporations by disclosing a company’s key technologies and data or making a huge effect on profits must be taken into account. It is pointed out that with this occurrence, to avoid hacking accidents such as ransomware, enterprises can take more active investment and involvement in security.