Japanese firms pay customers after cyberattacks as GMO shares slide 11%
GMO Internet will pay customers 5,000 yen each after a cyberattack on its foreign exchange trading service, as Japanese firms move to compensate users hit by a wave of attacks linked to flaws in the PHP programming language.
Japanese companies are moving to pay compensation to users after waves of cyberattacks disrupted internet services and raised concerns about economic stability, Reuters reported on Monday.
GMO Internet said customers would be compensated for losses stemming from unauthorised access following a cyberattack on its foreign exchange trading service, and that all customers would receive 5,000 yen ($32) as “an initial gesture of good faith,” chief executive Masatoshi Kumagai said in a blog post on Sunday.
Shares of GMO, which had a market value of $2.6 billion as of Friday’s close, slumped 11% in Tokyo on Monday morning, compared with flat trading in the benchmark index, Reuters reported.
The move comes after Japan said on Friday it would set up a team to simulate cyberattacks using AI to identify weaknesses in technology systems, as organisations scrambled to curtail risks from flaws in the PHP programming language that underpins much of the internet. Government and company websites in Japan, Europe and elsewhere went offline last week after the disclosure of critical PHP vulnerabilities prompted millions of hacking attempts.
GMO Internet said it had received a demand for money from a party believed to be behind the attack, along with a threat to disclose company and customer information if it did not comply. The company said it would not comply and would respond in coordination with police and other authorities.
Separately, Park24, which operates the Times car-sharing service, said on Friday it would make 3,000 yen payments to customers following a personal data breach.
Sources
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