A recent post by Sean Hollister of NWC Alliance discusses how smart light bulbs can be hacked and why this is more dangerous than letting a hacker turn your lights on and off. By hacking one bulb the hacker can trigger a data overflow on the system's control bridge, and install malware on the bridge which is connected to a business or home network.
Researchers at Check Point Software who found this vulnerability claim the Zigbee communications protocol used for these smart bulbs is also used by many other smart home brands, including Amazon, Samsung, Ikea, Honeywell and Comcast products.
If your home or business uses smart devices that connect to your computer system, see if there are security patches you can install.