(Yicai Global) Oct.18 -- Chinese internet security giant Qihoo 360 Technology Co.[NYSE:QIHU] has responded to reports that a major security vulnerability has been discovered in the WPA/WPA2 encryption protocols used in WiFi networks capable of affecting almost all connected devices.

The Beijing-based firm has carried out an emergency investigation into the security breach and confirmed that risks posed by the bug were under control.

Qihoo 360 called on users not to panic or change WiFi passwords, as the flaw can be fixed by updating WPA/WPA2 Wireless Certified client software. Hackers would also need to be less than 100 meters away from the device to carry out an attack, and it is technically difficult to implement, so real attacks are unlikely to occur anytime soon.

The flaw, dubbed Key Reinstallation Attacks (KRACK), can affect almost all computers, cellphones, routers and other WiFi-enabled devices. Attackers can use it to intercept data transmitted via networks and hijack applications, Chinese financial news outlet 21Jingji reported recently.

Linux, Windows 10 and Apple have already released patches this month to fix the vulnerability.