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A personal data breach occurred at mRafah Partners, Korea's first venture fund administrative trustee. Given that it serves over 800 GP (general partner) clients including VC (venture capital), AC (accelerator), and new technology finance companies, the incident is expected to cause ripples throughout the venture investment industry.
On the 26th, mRafah Partners announced, "We confirmed that unauthorized external access occurred to the MIRA FAAN service, resulting in a leak of customer personal information." 'MIRA FAAN' is mRafah Partners' fund management solution, providing back-office services to approximately 1,500 venture funds.
mRafah Partners explained, "The leaked personal information includes △names △email addresses △phone numbers △addresses △encrypted resident registration numbers and 19 types of account/history information (identification number, account status, consent information, registration/access history, modification history), with resident registration numbers leaked in an encrypted state." They added, "To date, the confirmed leaked data does not include facts that customers are participating in specific funds or partnerships, nor any information related to those funds or partnerships."
According to their internal investigation, abnormal external access occurred to the MIRA FAAN service between the 20th and 21st, allowing partial partner information to be viewed. mRafah Partners confirmed this around 2:10 p.m. on the 21st and immediately blocked external access to that function. Subsequently, they reported the personal data breach to the Personal Information Protection Commission and the Korea Internet & Security Agency at 9:46 a.m. on the 22nd and are cooperating with the investigation.
mRafah Partners stated, "Along with the report, we have implemented response procedures including log preservation and analysis of the intrusion path." They added, "We are closely examining the cause of this incident and any deficiencies in our company's security management."
Immediately after recognizing the personal data breach, measures were taken including △stopping servers and blocking attack paths and IP addresses △fixing code where vulnerabilities were identified △comprehensive inspection and remediation for similar types of vulnerabilities △preservation of relevant access records △confirmation of the scope and affected targets of the leak △overall service security inspection and strengthening of anomaly detection systems.
According to mRafah Partners, no additional leaks have been confirmed since these measures were taken. A representative of mRafah Partners emphasized, "The investigation is currently ongoing. We are not stopping here; we are re-examining the entire personal information processing and security management system in light of this incident and implementing necessary improvement measures."
Furthermore, they warned, "There is a possibility that phishing, smishing, or impersonation contacts using leaked personal information may occur. Please be extremely cautious regarding emails, texts, or calls requesting personal information, authentication numbers, or financial information that claim to be from mRafah Partners or financial institutional investors." They added, "Do not open links or attachments of unclear origin, and if you receive suspicious contact, please verify through the Future Partners customer support team."
The specific scale of customer damage has not been revealed. A representative of mRafah Partners stated, "We will need to wait for the investigation by relevant institutional investors to accurately determine the scale of damage," explaining that "at this moment, it is difficult to clearly state how many individuals' information has been leaked."
Meanwhile, established in 2017 by Park Mi-ra (CEO), formerly of Jeil Venture Capital, mRafah Partners is Korea's first venture fund administrative management trustee supporting the administrative management tasks of individual investment partnerships, venture investment partnerships, and new technology investment partnerships formed by ACs, VCs, and new technology finance companies. It handles the entire process from partnership formation, operation, general meetings, finance, taxation, dissolution, liquidation, to reporting to supervisory institutional investors such as the Ministry of SMEs and Startups.
[MoneyToday startup media platform Unicorn Factory]
in FUTURE
