{"id":37715,"date":"2020-10-15T14:15:06","date_gmt":"2020-10-15T14:15:06","guid":{"rendered":"https:\/\/www.threatshub.org\/blog\/security-much-twitter-should-have-had-a-ciso-to-prevent-bitcoin-hack-says-us-state-financial-body\/"},"modified":"2020-10-15T14:15:06","modified_gmt":"2020-10-15T14:15:06","slug":"security-much-twitter-should-have-had-a-ciso-to-prevent-bitcoin-hack-says-us-state-financial-body","status":"publish","type":"post","link":"https:\/\/www.threatshub.org\/blog\/security-much-twitter-should-have-had-a-ciso-to-prevent-bitcoin-hack-says-us-state-financial-body\/","title":{"rendered":"Security much? Twitter should have had a CISO to prevent Bitcoin hack, says US state financial body"},"content":{"rendered":"<div><img decoding=\"async\" src=\"https:\/\/regmedia.co.uk\/2016\/07\/12\/shutterstock_shield.jpg\" class=\"ff-og-image-inserted\"><\/div>\n<p>American financial regulators in New York have demanded Twitter be subject to harsher rules following the July hacks of prominent users&#8217; accounts \u2013 as CEO Jack Dorsey furiously backpedals after his website censored a news article from a US newspaper.<\/p>\n<p>The New York State Department of Financial Services (DFS) demanded that Twitter be subject to more &#8220;cybersecurity protections&#8221;, controlled and overseen, naturally, by itself.<\/p>\n<p>\u201cWe need a comprehensive cybersecurity regulation and an appropriate regulator for large social media companies. The stakes are too high to leave to the private sector alone,\u201d said the DFS, adding that its own \u201ccybersecurity regulation for the financial services industry established an effective regulatory approach and is a good model here.\u201d<\/p>\n<p>Such calls are relatively routine in the hyper-charged world of American politics; yet another public sector body demanding more powers and more control over the private sector will not unduly worry anyone at Twitter, especially in light of <a target=\"_blank\" href=\"https:\/\/www.twobirds.com\/en\/news\/articles\/2019\/global\/the-online-harms-white-paper-whatever-happened-to-online-offline-equivalence\" rel=\"noopener noreferrer\">regulatory threats from the UK\u2019s \u201conline harms\u201d proposals<\/a>.<\/p>\n<p>The DFS\u2019s report concentrated on the hack of Twitter in July by bad folk promoting a pump \u2018n\u2019 dump cryptocurrency scheme. Around 130 celebrities\u2019 accounts, marked out by blue ticks on the social media platform, <a target=\"_blank\" href=\"https:\/\/www.theregister.com\/2020\/07\/17\/twitter_blue_tick_hack_latest\/\" rel=\"noopener noreferrer\">were hijacked and used to post links to a Bitcoin wallet<\/a> along with false promises that \u201cdonations\u201d to it would be doubled in return.<\/p>\n<p>DFS blamed Twitter\u2019s lack of a chief information security officer for the hack as well as the platform\u2019s shift to homeworking. It identified the attack vector as &#8220;vishing&#8221; \u2013 voice-enabled phishing \u2013 where the hackers made phonecalls to Twitter posing as legitimate staffers and claiming to be struggling with corporate VPN access: \u201cArmed with these personal details, the Hackers successfully convinced several Twitter employees that they were from Twitter\u2019s IT department and stole their credentials,\u201d said <a target=\"_blank\" href=\"https:\/\/www.dfs.ny.gov\/Twitter_Report\" rel=\"noopener noreferrer\">DFS<\/a>.<\/p>\n<h3 class=\"crosshead\"> <span>Twitter censorship kerfuffle<\/span><br \/>\n<\/h3>\n<p>Separately, Twitter CEO Jack Dorsey was forced into a very public reverse ferret after Twitter staffers blocked a <a target=\"_blank\" rel=\"nofollow noopener noreferrer\" href=\"https:\/\/www.motherjones.com\/politics\/2020\/10\/giuliani-and-the-new-york-post-are-pushing-russian-disinformation-its-a-big-test-for-the-media\/\">problematic<\/a> New York Post <a target=\"_blank\" rel=\"nofollow noopener noreferrer\" href=\"https:\/\/nypost.com\/2020\/10\/14\/email-reveals-how-hunter-biden-introduced-ukrainian-biz-man-to-dad\/\">article<\/a> from being shared on the platform because it had been labelled as \u201cpotentially harmful.\u201d<\/p>\n<p>The article claimed to contain proof that Democratic US presidential candidate Joe Biden\u2019s son had introduced his father to a Ukrainian company that was later investigated by a local prosecutor \u2013 a prosecutor who was allegedly fired after Biden senior had a word with Ukrainian authorities. The precise details of the scandal are of great interest to US-focused kremlinologists.<\/p>\n<p>It appears that most but not all Twitter users are unable to share the link either by posting it on the platform or sharing it through direct messages. A search for the article link shows some, mainly blue-ticked or political accounts, have managed to post it.<\/p>\n<blockquote class=\"twitter-tweet\" readability=\"4.8154506437768\">\n<p lang=\"en\" dir=\"ltr\">Our communication around our actions on the <a href=\"https:\/\/twitter.com\/nypost?ref_src=twsrc%5Etfw\">@nypost<\/a> article was not great. And blocking URL sharing via tweet or DM with zero context as to why we\u2019re blocking: unacceptable. <a href=\"https:\/\/t.co\/v55vDVVlgt\">https:\/\/t.co\/v55vDVVlgt<\/a><\/p>\n<p>\u2014 jack (@jack) <a href=\"https:\/\/twitter.com\/jack\/status\/1316528193621327876?ref_src=twsrc%5Etfw\">October 14, 2020<\/a><\/p><\/blockquote>\n<p>Predictably, the Republican Party was outraged that a news article embarrassing their opponent was out of circulation, with the political party\u2019s Twitter operatives posting a rather menacing tweet:<\/p>\n<blockquote class=\"twitter-tweet\" readability=\"3.18\">\n<p lang=\"en\" dir=\"ltr\">see you soon, <a href=\"https:\/\/twitter.com\/jack?ref_src=twsrc%5Etfw\">@jack<\/a>. <a href=\"https:\/\/t.co\/USyi7LAC7u\">pic.twitter.com\/USyi7LAC7u<\/a><\/p>\n<p>\u2014 Senate Republicans (@SenateGOP) <a href=\"https:\/\/twitter.com\/SenateGOP\/status\/1316495807286304771?ref_src=twsrc%5Etfw\">October 14, 2020<\/a><\/p><\/blockquote>\n<p>Facebook, meanwhile, <a target=\"_blank\" rel=\"nofollow noopener noreferrer\" href=\"https:\/\/www.npr.org\/2020\/10\/14\/923766097\/facebook-and-twitter-limit-sharing-new-york-post-story-about-joe-biden\">also limited distribution<\/a> of the Post&#8217;s story while &#8220;outside fact-checkers&#8221; reviewed the claims, spokesman Andy Stone told NPR.<\/p>\n<p>Expect to read lots more about repeal of <a target=\"_blank\" href=\"https:\/\/www.theregister.com\/2020\/10\/14\/section_230_supreme_court_thomas\/\" rel=\"noopener noreferrer\">Section 230 of the American Communications Decency Act<\/a> in the immediate future. \u00ae<\/p>\n<p> READ MORE <a href=\"https:\/\/go.theregister.com\/feed\/www.theregister.com\/2020\/10\/15\/twitter_hack_report_new_york_post_censorship\/\">HERE<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Plus: Platform &#8216;censors&#8217; US newspaper and triggers ordure tsunami American financial regulators in New York have demanded Twitter be subject to harsher rules following the July hacks of prominent users&#8217; accounts \u2013 as CEO Jack Dorsey furiously backpedals after his website censored a news article from a US newspaper.\u2026 READ MORE HERE&#8230;<\/p>\n","protected":false},"author":2,"featured_media":37716,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","footnotes":""},"categories":[63],"tags":[],"class_list":["post-37715","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-register"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Security much? Twitter should have had a CISO to prevent Bitcoin hack, says US state financial body 2026 | ThreatsHub Cybersecurity News<\/title>\n<meta name=\"description\" content=\"ThreatsHub Cybersecurity News | ThreatsHub.org | Cloud Security &amp; Cyber Threats Analysis Hub. 100% Free OSINT Threat Intelligent and Cybersecurity News.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.threatshub.org\/blog\/security-much-twitter-should-have-had-a-ciso-to-prevent-bitcoin-hack-says-us-state-financial-body\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Security much? 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