The scammers who hijacked celebrity Twitter accounts to promote cryptocurrency in July did so by posing as a customer support team in a breach that caught Twitter’s security team flat-footed, a New York regulator said in a report Wednesday. The investigation from New York’s Department of Financial Services faulted Twitter for not heightening security measures for telework during the coronavirus pandemic, and called for regulation of social media companies to force better cybersecurity practices. “Social-media platforms have quickly become the leading source of news and information, yet no regulator has adequate oversight of their cybersecurity,” Linda Lacewell, Superintendent of FinancialServices, said in a statement. “The fact that Twitter was vulnerable to an unsophisticated attack shows that self-regulation is not the answer.” According to the report, attackers posed as Twitter’s IT department and phoned Twitter employees to discuss an apparent problem with their virtual provide networking (VPN) connection, a security technology that […]
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