Twitter: allegations of serious data breaches and extreme system failures. Musk smiles
Today came great news for Elon Musk, and bad news The Washington Post released a new report claiming that executives misled federal regulators and the company's board of directors about "extreme shortcomings. and sensational "in the fight against hackers.
The WaPo cited a complaint from former security chief Peiter Zatko, who said some of the company's servers use outdated software and that executives withheld critical information about data breaches. Bezo's news agency interviewed more than a dozen current and former employees about past shortcomings.
The complaint was filed with the SEC, the DoJ and the FTC last month. The complaint was filed with the SEC, the DoJ and the FTC last month, and claims that thousands of employees have had access to core business software, which has led to data breaches and hacking of high-profile users.
According to the WaPo, the whistleblower's paper claims executives prioritized user growth over reducing spam and rewarded executives with cash bonuses of up to $ 10 million to increase the number of daily users.
The complaint emphasizes that CEO Parag Agrawal "lied" when he said in May that the company had "a strong incentive to detect and remove as much spam as possible."
In an interview with WaPo, Zatko said his decision to reveal Twitter's shortcomings to the public is just an extension of his previous job of reporting security breaches within the company.
“I felt ethically bound. It's not a light step to take, ”said Zatko, who was fired from Agrawal in January. He did not want to talk about what happened to Twitter, except to reiterate his formal complaint. Under SEC rules, Zatko is entitled to legal protection against retaliation and potential cash rewards. -WaPo
A company spokesperson, Rebecca Hahn, told WaPo that Zatko's allegations are "full of inaccuracies" and that "security and privacy have long been Twitter's top priorities."
Twitter also said Zatko was fired from his executive role earlier this year for ineffective leadership and poor performance.
As for the spam bot allegations, Musk's legal team is requesting documents from the company. Hahn said Twitter removes more than a million spam accounts every day.
Shares on Twitter suffered a 4.5% decline, and it still did well given the gravity of the allegations.
This revelation could offer Musk a "way out" of the deal, as he could claim that the security breaches are a clear material negative change in the company's value to the point of not only justifying a lowering of the price offered, but the actual cancellation of the contract. Nice Shot !
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The Twitter article: allegations of serious data breaches and extreme system deficiencies. Musk smiles comes from ScenariEconomici.it .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/twitter-accuse-di-violazioni-gravi-dei-dati-e-di-carenze-estreme-del-sistema-musk-sorride/ on Tue, 23 Aug 2022 21:05:41 +0000.