Twitter saw $1.3 billion in market value wiped out after a massive hack targeted Barack Obama, Kim Kardashian, Elon Musk, and other prominent accounts
targeted major accounts on the platform including Barack Obama, Kim Kardashian, Bill Gates, Apple, Uber, and Elon Musk.
Shares of Twitter dropped by more than 4% in pre-market trading, erasing roughly $1.3 billion in market value. The hack was part of an apparent cryptocurrency scam — after taking over the high profile accounts, hackers repeatedly posted messages urging people to send $1,000 in Bitcoin and promising to double their profits. Some accounts were compromised for more than an hour before Twitter took control.
The hack poses a threat to Twitter's reputation rather than a risk to near-term advertising revenues, analysts told
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