Security Concerns Flagged Within Japan Firm Gmo Before Breach Ceo
Security Concerns Flagged Within Japan Firm Gmo Before Breach Ceo
🚨 GMO Internet Group Inc CEO Masatoshi Kumagai admitted on Sunday night that internal engineers had flagged security issues before unauthorized access occurred to a foreign exchange trading service it provides. He acknowledged that the company’s response to these concerns was insufficient. In a post on his blog, Kumagai stated that the internet services firm was warned by in-house white-hat hackers about “issues that needed improvement” regarding security, but the response was inadequate in both depth and speed, allowing attackers to exploit the vulnerability. He expressed his regret, saying, “I deeply regret it.”
đź”’ GMO has confirmed that customer information, including account passwords, was leaked externally and used in fraudulent transactions. The unauthorized access targeted the onamae.com desktop cloud service. A customer reported suspected unauthorized transactions on October 19, and GMO confirmed the next day that an unauthorized program had been installed on their servers. Although the servers were shut down on Wednesday, customers continued to report operations they did not recognize. GMO announced it will reimburse customers for losses from the unauthorized transactions and intends to pay 5,000 yen ($32) to all customers of the affected service, regardless of whether they suffered financial losses in the cyberattacks.
🛡️ On Saturday, GMO requested the government to implement “active cyber defense” measures due to the unauthorized access. With cyberattacks against businesses becoming increasingly severe, Prime Minister Sanae Takaichi and relevant cabinet ministers will hold a meeting on cybersecurity plans on Monday evening, according to the top government spokesman. Under a law that took effect on October 1, the government can use its powers to infiltrate servers used by attackers and neutralize threats to prevent damage before it occurs. However, this is not designed to be activated at the request of private companies. While GMO is not among critical infrastructure operators designated under the framework, Kumagai emphasized that the government should take a firm stance against cybercrime. He warned, “If this is overlooked as just an isolated incident in the private sector, all kinds of social infrastructure and personal assets could be threatened next by similar methods.”
📢 Speaking at a press conference in Tokyo, Chief Cabinet Secretary Minoru Kihara stated that “countermeasures are urgently needed” in light of the recent spate of data leaks and their misuse. The ministerial meeting’s attendees will share information and discuss future measures, including further coordination between government agencies and ministries.