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SecurityQuiet 9d · day 10

GMO CEO apologizes for ignoring 2024 security warnings; North Korea-linked hackers blamed

Japanese hosting firm admits it failed to act on expert alerts before October cyberattack that cost users millions in forex trades.

newest coverage 8d agosummary written 8d ago7 pieces NewswiresMastodon

What to know

  • GMO failed to act on cybersecurity warnings from its own subsidiary in 2024, CEO Kumagai admitted at Monday's briefing; company blamed AI for creating new vulnerabilities.
  • North Korea-linked hackers targeted GMO's Onamae.com Desktop Cloud service in October, executing 50 unauthorized forex trades in 3 minutes and costing one victim ¥4.3 million.
  • Kumagai and three other executives will have salaries cut 20-30% for three months; GMO promised compensation for victims and prevention measures going forward.
  • Analysis by GMO and Kyodo News identified five IP addresses used in the attack as consistent with North Korean hacking patterns and malware characteristics.

“I now feel uneasy about all kinds of services connected to the internet. I want (the company) to clarify what happened.”

Company worker, Aichi Prefecture, Cyberattack victim · Japan Times ↗ · Nov 1

Masatoshi Kumagai CEO, GMO Internet GroupGMO Internet Group Victim and respondentNorth Korea-linked hacking group PerpetratorGMO Cybersecurity by Ierae GMO subsidiary

GMO CEO apologizes for ignoring 2024 security warnings; North Korea-linked hackers blamed
Japan Times

How it unfolded 3 developments, newest first · click a bar or a number to jump articlesposts

Peak 1 piece in 3h at Oct 31, 8 PM; 7 pieces over 10 days (5 articles · 2 posts) Oct 31, 8 PM — 1 piece · 1 article — Newswires 1Oct 31, 11 PM — quietNov 1, 1 AM — 1 piece · 1 post — Mastodon 1Nov 1, 4 AM — quietNov 1, 7 AM — quietNov 1, 10 AM — quietNov 1, 1 PM — quietNov 1, 4 PM — quietNov 1, 7 PM — 1 piece · 1 article — Newswires 1Nov 1, 10 PM — 1 piece · 1 article — Newswires 1Nov 2, 1 AM — 1 piece · 1 article — Newswires 1Nov 2, 4 AM — quietNov 2, 7 AM — 1 piece · 1 post — Mastodon 1Nov 2, 10 AM — quietNov 2, 1 PM — 1 piece · 1 article — Newswires 1Nov 2, 4 PM — quietNov 2, 7 PM — quietNov 2, 10 PM — quietNov 3, 1 AM — quietNov 3, 4 AM — quietNov 3, 7 AM — quietNov 3, 10 AM — quietNov 3, 1 PM — quietNov 3, 4 PM — quietNov 3, 7 PM — quietNov 3, 10 PM — quietNov 4, 1 AM — quietNov 4, 4 AM — quietNov 4, 7 AM — quietNov 4, 10 AM — quietNov 4, 1 PM — quietNov 4, 4 PM — quietNov 4, 7 PM — quietNov 4, 10 PM — quietNov 5, 1 AM — quietNov 5, 4 AM — quietNov 5, 7 AM — quietNov 5, 10 AM — quietNov 5, 1 PM — quietNov 5, 4 PM — quietNov 5, 7 PM — quietNov 5, 10 PM — quietNov 6, 1 AM — quietNov 6, 4 AM — quietNov 6, 7 AM — quietNov 6, 10 AM — quietNov 6, 1 PM — quietNov 6, 4 PM — quietNov 6, 7 PM — quietNov 6, 10 PM — quietNov 7, 1 AM — quietNov 7, 4 AM — quietNov 7, 7 AM — quietNov 7, 10 AM — quietNov 7, 1 PM — quietNov 7, 4 PM — quietNov 7, 7 PM — quietNov 7, 10 PM — quietNov 8, 1 AM — quietNov 8, 4 AM — quietNov 8, 7 AM — quietNov 8, 10 AM — quietNov 8, 1 PM — quietNov 8, 4 PM — quietNov 8, 7 PM — quietNov 8, 10 PM — quietNov 9, 1 AM — quietNov 9, 4 AM — quietNov 9, 7 AM — quietNov 9, 10 AM — quietNov 9, 1 PM — quietNov 9, 4 PM — quietNov 9, 7 PM — quietNov 9, 10 PM — quietYesterday, 1 AM — quietYesterday, 4 AM — quietYesterday, 7 AM — quietYesterday, 10 AM — quietYesterday, 1 PM — quietYesterday, 4 PM — quietYesterday, 7 PM — quietYesterday, 10 PM — quietToday, 1 AM — quietToday, 4 AM — quiet 12–3
Nov 1Nov 2Nov 3Nov 4Nov 5Nov 6Nov 7Nov 8Nov 9now · 5:42 AM ET
  1. 3

    GMO promises compensation to victims

    GMO Internet Group promised to compensate victims of the cyberattack, prevent recurrence, and apologized for the security breaches.

    1. 2 outlets first by Japan Today, 8d ago · also Philadelphia Inquirer · read ↗

    • thejapantimes@mastodon.social

      A North Korea-linked hacker group was likely behind a cyberattack against GMO Internet group, reports said Monday, ahead of CEO Masatoshi Kumagai's first news conference since the firm acknowledged a massive data breach. https://www. japantimes.co.jp/news/2026/11/ 02/japan/gmo-news-conference/?utm_medium=Social&utm_source=mastodon # japan #…

      thejapantimes@mastodon.socialMastodon8d agoview on Mastodon ↗
  2. 2

    Four executives to face salary cuts as punishment

    As punishment for the company's poor security response, four top executives including Kumagai will have their salaries reduced by between 20% and 30% for the next three months.

    “It is true that we had previously received reports from experts from GMO Cybersecurity by Ierae, one of our subsidiaries, pointing out issues with our system…”
    — Masatoshi Kumagai, CEO, GMO Internet Group · source
  3. background

    Kumagai acknowledges ignoring 2024 security warnings at briefing — In the company's first public briefing on the breach, CEO Kumagai apologized for failing to properly respond to cybersecurity warnings that subsidiary GMO Cybersecurity by Ierae had pointed out in 2024. He blamed artificial intelligence for creating new vulnerabilities and acknowledged the company's response was insufficient in both thoroughness and speed.

  4. 1

    North Korea-linked hackers identified as likely perpetrators

    Analysis by GMO Internet Group found that a North Korea-linked hacking group was likely behind the cyberattack, based on characteristics of the malware and other traces left by perpetrators. The company had already reported the matter to the government. Kyodo News, working with security experts, corroborated the finding, identifying five IP addresses used to access the systems.

    “An analysis by Japan's GMO Internet Group found that a North Korea-linked hacking group was likely behind the cyberattack on the company last month…”
    — Sources close to the matter
    1. 1 outlet North Korea said behind GMO cyberattack ahead of CEO’s first briefing on hacking

      first by Japan Times, 9d ago

    2. 1 outlet North Korea hackers behind Japan’s massive GMO data leak, investigation finds

      first by SCMP, 9d ago

  5. background

    GMO schedules first public briefing on cyberattack — GMO Internet Group announced that CEO Masatoshi Kumagai and other executives would hold a news conference in Tokyo on Monday to address unauthorized access incidents, explain circumstances of the Onamae.com Desktop Cloud cyberattack, and outline response and prevention measures.

  6. background

    Cyberattack on GMO's forex trading platform discovered — A company worker in Aichi Prefecture discovered unauthorized access to her trading account on the morning of October 22. Around 50 trades were executed in roughly 3 minutes at 5 a.m., causing her to lose ¥4.3 million—almost all her account assets.