Line acquires Korean cybersecurity firm GrayHash

Line Plus, a South Korea-based subsidiary of messaging app Line, has acquired local cybersecurity firm GrayHash.

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GrayHash specializes in counter-hacking methods and “offensive research,” Japan’s Line said in a statement.

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The deal sees the security firm rebrand to GrayLab, which will be tasked to build and optimize security solutions for Line’s different services.

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Photo credit: Line

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Security has become more important for Line since it launched its own crypto token and blockchain network in August. The company is also deepening its fintech business with the US$1.33 billion it raised in September.

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GrayHash CEO and co-founder SeungJin Lee will stay on as the head of GrayLab. Lee previously served in the Seoul Eastern District Prosecutor’s office as an advisor in the Cyber Bureau of Investigation. At present, he is on the review boards for security conferences BlackHat Asia and Code Blue.

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The move follows a spate of hacking attacks against large firms like Marriott and Quora over the past month.