AP Twitter account was hacked – stocks drop

The Associated Press’s Twitter account was hacked earlier this week. The attackers announced in a phony tweet that there had been explosions at the White House and that President Obama was injured. The Dow Jones Industrial Average dropped 140 points but it rebounded after the White House announced that the tweet was phony. Twitter has announced that it is currently testing two-factor authentication internally and hopes to introduce it to users “shortly.” This only after a number of security issues in the past.

Some are still questioning whether two-factor authentication would have stopped the fake tweet. Most likely an AP employee fell for a phishing attack.

Even worse [or scarier] is that how the markets reacted to the phony tweet without even verifying that it actually did happen. Wouldn’t CNN, Fox News or others carry this if was real news?

You wonder of how someone [say a friend of a floor trader] could tweet some phony news and how fast the markets would react.

Someone could also make a quick buck very fast. Buy stock when it’s on the downswing and sell it later on when it is back at its normal level. Think of what “saving” and later profit you could have if you tweeted there was a major issue at Google [this is only an example] since their stock is quite pricey.

[Update 2013/04/29:] The same group that hijacked the Associated Press’s Twitter feed last week is now claiming responsibility for taking over Twitter accounts belonging to the UK newspaper The Guardian. The Syrian Electronic Army claims to have taken control of 11 Twitter feeds at the Guardian.

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About ebraiter
computer guy

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