On the site Techdirt that covers technology, security, law and civil liberties (and waggishly when commenters complain about how much other than tech it covers claims to be a dirt site, not a tech site), IoT is referred to as IoBT "the internet of broken things", because of how really, really bad security is on almost all internet-connected devices that aren't computers, tablets or smartphones.
There is something wrong with the world when the thought that your refrigerator might be spying on you isn't a sign of paranoid schizophrenia, but a sober assessment of a security risk.