Naver subsidiary acquires white hacker company to strengthen fintech security

By Park Sae-jin Posted : December 12, 2018, 11:23 Updated : December 12, 2018, 11:23

[Courtesy of LINE]


SEOUL -- LINE, the Tokyo-based message app operator affiliated with South Korea's top web portal Naver, has acquired a data security company comprised of "white hackers" in an effort to step up the development of optimized security solutions for its messenger and fintech services.

White hackers, also known as ethical hackers, work with agencies and organizations to find network vulnerabilities and security flaws. They establish front-line defense systems against malicious hackers by developing security solutions and strengthening existing systems.

LINE PLUS, the global mobile platform service wing of LINE, said in a statement Tuesday that it has acquired "GrayHash" to reorganize it into an in-house team of white hackers called "GrayLab". The team specializes in offensive security research, a simulated hacking method to find out vulnerabilities of a system.

The offensive security research method is ideal to find unexpected security flaws because experts use a variety of ingenious hacking methods as malicious hackers do. GrayLab will develop security solutions for LINE's messenger, financial technology (fintech) and blockchain cryptography services.

LINE, which has about 78 million monthly active users in Japan, said last month that it would establish a joint fintech venture with Japan's Mizho Financial Group to provide a variety of convenient financial services including smartphone banking apps.
 
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