South Korean authorities have arrested and indicted the operators of a data recovery company for allegedly colluding with North Korean cybercriminals to extort money from over 700 victims.

The Seoul Central District Prosecutors’ Office has charged the unnamed head of the South Korean company and another employee as co-conspirators in racketeering, according to a press release on Monday. 

They allegedly helped extort some $2 million (2.6 billion won) from 730 targets between Oct. 2018 and July 2022.

In the campaign, attackers reportedly infected South Korean targets’ computers with the Magniber ransomware, which changes file extensions to random lowercase character strings