Twitter’s security fell short before hack targeting celebrities, regulator says

The report by New York’s Department of Financial Services also recommended that the largest social media companies be deemed systemically important, like some banks following the 2008 financial crisis, with a dedicated regulator monitoring their ability to combat cyberattacks and election interference. — Reuters

NEW YORK: Twitter Inc suffered from cybersecurity shortfalls that enabled a “simple” hack attributed to a Florida teenager to take over the accounts of several of the world’s most famous people in July, according to a report released on Wednesday.

The report by New York’s Department of Financial Services also recommended that the largest social media companies be deemed systemically important, like some banks following the 2008 financial crisis, with a dedicated regulator monitoring their ability to combat cyberattacks and election interference.