Japanese Firms Pay Users After Cyberattacks Disrupt Services
Japanese companies are compensating users following a wave of cyberattacks that have disrupted internet services and raised concerns about economic stability. GMO Internet Group, a major player in the financial services sector, announced it would pay 5,000 yen ($32) to all customers as an initial gesture of good faith following a cyberattack on its foreign exchange trading service. The incident highlights growing vulnerabilities in Japan's digital infrastructure, with experts noting that AI is being used to automate cybercrime tasks, making attacks faster and harder to detect. The Japanese government has also stepped in, setting up a team to simulate cyberattacks using AI to identify weaknesses in technology systems. Shares of GMO, which had a market value of $2.6 billion, slumped nearly 14% after the attack, underscoring the economic impact of these breaches. According to the report, the company 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. GMO stated it would not comply with the demand and would respond to the incident in coordination with police and other authorities.
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