Yes, Internet- connected devices are a serious security threat. Researchers at Context Information Security were able to hack LIFX light bulb systems in order to reveal Internet passwords.They found that by just requesting WiFi details from master bulb, no alarms were raised within the system.We are hearing that hackers eventually broke into a hospital network and stole 4.5 million patient records including Social Security number. Therefore,it is completely a serious security threat.
Smart light bulbs pose a security threat just as an other internet connected device does. The smart light bulbs work as a gateway to your computer and network. Hackers are able to pass through the light bubls and make their way past the network firewall. The light bulbs themselves just act as the gateway for hackers to be able to acheieve malicious behavior.
As more and more items (phone, light bulbs, refrigerators, watches, etc.) become remarketed as "smart" objects, people need to be increasingly aware of what sort of data they could be putting out there for the entire world to see. Many companies are not taking the proper measures to ensure all of their products are protecting consumers' data securely.
I think the more things that we have in our homes that are connected to the internet the greater the risk there will be for hacking. Video monitors that people use for their children have been known to be hacked if you have the wifi connection on and this seems like it would be similar.