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7-Eleven Japan shut down a mobile payments app after only two days because hackers exploited a simple security flaw and customers lost over $500,000

7-Eleven Japan shut down a mobile payments app after only two days because hackers exploited a simple security flaw and customers lost over $500,000
FlickrCC/Mike Mozart



On July 1, 7-Eleven Japan launched a mobile payment app, called 7pay, that had the security flaw of allowing anyone to reset any other user's password, ZDNet reported.




Bad actors accessed 900 customers' accounts and ripped them off to the tune of about $510,000, the company says.




7-Eleven Japan has shut down the app and promised to compensate users for the money they lost.




Read more on the Business Insider homepage.



On July 1st, 7-Eleven Japan launched 7pay, a new mobile app that allows customers to make purchases at its convenience stores, which are widely popular in Asia. But two days later, 7pay was shut down, after the company advised customers that third parties had accessed some accounts.
All told, the company said in a press release, over 900 customers had their accounts accessed, and they lost a collective total of ¥55 million, the equivalent of about $510,000. It promises compensation for affected users.
7pay was 7-Eleven's mobile wallet system, allowing users to make in-store payments by scanning a barcode at the cash register tied to a credit or debit card, similarly to systems like Walmart Pay.
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