The rapid collapse of the stocks of the world's largest social network, Twitter, occurred after hackers managed to crack Twitter accounts of some of the most prominent US companies, including Microsoft, Amazon, and SpaceX, as well as economical and political leaders. When this news was revealed, the value of Twitter shares has reduced by more than five times.
Shortly after the coordinated attack, which occurred on July 16, Twitter shares tumbled to a record low of $33.8 per share. What is more, hackers targeted high profile accounts as well as the accounts of thousands of ordinary users. The attacks were well planned as on all hacked accounts a promotion of a Bitcoin scam appeared. "All Bitcoin sent to my address below will be sent back doubled. If you send $1,000. I will send back $2,000", the hackers’ tweets read. Later, hackers tried to cover their tracks and deleted those messages. At the end of the investigation, it turned out that Twitter employees were involved in the incident. In a short time, hackers received hundreds of contributions totaling more than $100,000. "We’re looking into what other malicious activity they may have conducted or information they may have accessed and will share more here as we have it," the company tweeted.
