GMO Internet: Hackers Hijack Trades at 70 Brokerages

GMO Internet Group confirmed a cyberattack on Onamae Desktop Cloud that exposed up to 26,739 servers and let attackers steal login details to execute unauthorized trades at more than 70 brokerages. One account lost 2.4 million yen in 84 seconds before the hackers demanded a $50 million crypto ransom that GMO refused to pay. The company began shutting down affected servers on October 21, reported the incident to police, and will pay every user 5,000 yen plus full compensation for verified losses. GMO shares fell almost 16 percent to a four-month low on Monday while CEO Masatoshi Kumagai warned that the internet itself is starting to break down. Prime Minister Sanae Takaichi held an emergency cybersecurity meeting on October 26 as Japan records 723 cyber incidents this year.