What does Fitbit hacking mean for wearables and IoT?

Wearable activity tracking devices like those made by Fitbit were one of the hottest gifts this past holiday season and it appears criminal hackers were paying attention. According to reports by Brian Krebs and Buzzfeed, some number of Fitbit accounts were recently discovered to have been compromised.

This is not a large-scale breach where the customer account database/server was compromised. In this case it sounds like individual account passwords were stolen, guessed, or brute-forced. Scammers can obtained compromised account credentials on the black market, sometimes from criminal hackers who have managed to infect computers with keylogging malware. Attackers can also try username/password combinations harvested from prior attacks on different systems to see if they work on the target website.

What does Fitbit hacking mean for wearables and IoT?