Some experts stated that if Twitter refuses to tighten it's internal security measures, a worse event than the recent hack could happen.
The attack on Twitter on the 15th of July shows that the Application needs to tighten its security to prevent a worse event with grave aftermath, cybersecurity professionals cautioned.
Over 13 Bitcoin were stolen from victims during the recent crypto giveaway scam. The Hackers launched the scam by posting phishing messages through hijacked accounts of high-ranking political personalities and celebrities.
Chief executive officer of threat intelligence from Group-IB, Ilya Sachkov, opined that the attack indicated a huge problem of bad cyber hygiene and low financial literacy. He further stated that the stock market could have been significantly affected, which could have ended worse or have led to a geopolitical catastrophe. The hackers could have done more damage with the opportunity they had.
CSO and VP of Log Rhythm Lab, James Carder, stated that in the middle of international collaborations to contain the pandemic. Cyber-attackers are exploiting and using the uncertainty of this time for their own financial benefits. He stated further that professionals need to ascertain how the hackers executed the attack and point out the weak security to tighten.
The security expert is against Twitter for the fact that Twitter staff can tweet on behalf of their customers. It is understandable that social media organizations can manage accounts, take down inappropriate or offensive content, but the staff should not be able to tweet on a user's behalf. This shows a likely case of too much functionality available on the platform and not enough robust controls.
A threat analyst at Malware Lab Emsosoft, Brett Callow, stated that it isn't sufficient to prevent the possibility of another such incident in the future with the security efforts taken by Twitter presently.
He further stated that similar incidents would almost certainly happen again; the truth is there's no way to prevent Twitter account hacks.
A credible source announced earlier that the cyberpunks who executed the shocking Twitter hacks don't seem to be very smart Bitcoin users, because they left tracks leading to and from major exchanges that could lead to the revelation of their identities.
Source: Cointelegraph
