Social media platform Twitter had lax cyber security mechanisms in place before an “embarrassing” hack in July, which saw accounts of high-profile users being hijacked.
The New York State Department of Financial Services (DFS) yesterday released a report on the department’s investigation into the 15 July hack into the Twitter accounts of crypto-currency firms and well-known public figures, following governor Andrew Cuomo’s request to investigate the matter.
Among the findings, the DFS says the global social media platform lacked adequate cyber security protections and, at the time of the attack, did not have a chief information security officer (CISO).
The report recommends a new cyber security regulatory framework for giant social media companies.
In July, Twitter was hit by a massive social engineering attack targeting top users such as US presidential candidate Joe Biden, Tesla CEO Elon Musk, Amazon CEO Jeff Bezos, former US president Barack Obama, and reality TV star Kim Kardashian.
The attackers also hijacked the accounts of Microsoft founder Bill Gates, Uber and Apple, among others.
Three individuals, two of whom are teenagers, were later charged for their alleged roles in the Twitter hack.
“Social media platforms have quickly become the leading source of news and information, yet no regulator has adequate oversight of their cyber security,” says DFS superintendent Linda A Lacewell.
“The fact that Twitter was vulnerable to an unsophisticated attack shows that self-regulation is not the answer. As we approach an election in fewer than 30 days, we must commit to greater regulatory oversight of large social media companies.
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