Approximately 900 customers of 7-Eleven Japan have lost a collective of ¥55 million ($510,000) after hackers hijacked their 7pay app accounts and made illegal charges in their names. The incident was caused by an appalling security lapse in the design of the company’s 7pay mobile payment app, which 7-Eleven Japan launched in the country on Monday, July 1.

Read full article on ZDNet