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GMO and Park24 announce customer payouts after cyberattacks

Following cyberattacks on Japanese companies, GMO Internet Group said all customers would receive an initial payment of 5,000 yen, alongside compensation for losses from an intrusion into its foreign exchange trading service. Park24 announced payments of 3,000 yen to users after a personal information breach and expects extraordinary losses of 5.5 billion yen from response and compensation costs.

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GMO and Park24 announce customer payouts after cyberattacks
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What to know

  • 01

    GMO said it received ransom demands threatening disclosure of company and customer information. It will not comply and will offer customers six months of free alternative services.

  • 02

    Japan's government announced a dedicated team to use AI to simulate cyberattacks and identify vulnerabilities in technical systems.

Why it matters

The announced compensation plans and estimated response costs highlight the direct financial impact of these cyberattacks on the companies.

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