Japan finance minister flags cyber-attack losses at five forex firms linked to GMO
Japan's finance minister said five foreign-exchange companies have reported customer losses after a hack on GMO Internet Group, and urged steps to stop further damage.
At a press briefing, Finance Minister Satsuki Katayama reported that five foreign-exchange firms have filed loss reports with the Financial Services Agency after a cyberattack on GMO Internet Group Inc. The breach targeted GMO's Onamae.com Desktop Cloud service, and a hacker threatened to expose data and launch a ransomware strike, demanding $50 million in cryptocurrency, which GMO's CEO Masatoshi Kumagai said the firm will not pay.
GMO started analyzing the devices of cooperating customers on Monday to gauge the intrusion's scope and to determine if malware was installed. The company pledged to inform each user by email once protective steps are identified. Katayama urged all financial institutions to adopt appropriate measures to prevent additional losses.
Why it matters
The incident highlights vulnerabilities in Japan's financial tech infrastructure and could affect many retail investors.
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