The only reason these flaws aren't being exploited right now is that hacker currently have little interest, even though these devices are "trivial" to attack, he said. But don't get too comfortable.
"Very soon, we're likely to see a big breach. It's quite probable that some really shiny, cool, new product is going to come along in the next year which will see massive adoption by consumers and enterprises. When that happens, I think attacker interest will rise," he continued, adding "the speed of that market means we're building up to that moment."
Lyne isn't the only one who believes a big IoT security breach is coming: cybersecurity expert Bruce Schneier also fears that one is coming sooner rather than later - and that connected cars could be a particularly dangerous target.
"When you start thinking about a car, you quickly realise the integrity and vulnerability threats are much worse than confidentiality threats and there's real risks to life and property here," he said, speaking at the recent InfoSecurity Europe conference in London.