Toss Wins First Place in 'Financial Security Threat Analysis Competition'

[Asia Economy Reporter Kiho Sung] Toss announced on the 27th that it won first place in the ‘FIESTA 2021 Financial Security Threat Analysis Competition’ (Financial Security Threat Analysis Competition) hosted by the Financial Security Institute.

The ‘Financial Security Threat Analysis Competition’ is a hacking competition hosted by the Financial Security Institute that began in 2018. It is the only hacking competition in Korea focused on financial security. This year, 38 teams participated out of 201 member companies. A total of 32 problems were presented across four fields: malware analysis, web hacking, mobile analysis, forensics, and cryptography.

Toss participated in the competition with the security technology team under the team name ‘Coffee Silo.’ Toss solved all 32 problems and took first place. The team leader, Jongho Lee, who leads the security technology team, has a record of winning prestigious global hacking competitions such as the US DEF CON, known as the ‘Hacking Olympics,’ as well as Japan SECCON and Taiwan HITCON.

A Toss representative said, “We decided to participate in this competition to assess our response capabilities to increasingly sophisticated and diverse recent security breaches,” adding, “This result, achieved amid highly challenging problems and participation from many financial companies, is a valuable achievement that evaluates the efforts the company has devoted to security.”