Technology

Twitter shares drop 7% on issues about hacking activity

Twitter shares drop 7% on issues about hacking activity
Twitter shares drop 7% on issues about hacking activity

Twitter Inc (TWTR.N) stocks fell nearly 7 percent after the firm said it was exploring unusual traffic which may be from state-sponsored hackers as well as in what seemed to be an unrelated problem, a security company said hackers used the system to attempt and steal consumer information.

Twitter stated in a website it found suspicious visitors to some customer-support forum whilst exploring a security bug that subjected information, such as users’ phone state codes and information on secured accounts. It stated the bug was repaired Nov. 16.

Twitter observed plenty of visitors to the customer care website coming from individual net IP addresses in China and Saudi Arabia.

“While we can’t confirm purpose or attribution for sure, it’s likely that a few of those IP addresses might have ties to state-sponsored celebrities,” the site said.

“We continue to err on the side of complete transparency in this region and have upgraded law enforcement on our findings,” it stated.

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A company spokesman declined to elaborate since Twitter stocks posted their biggest fall in two or more months.

Wedbush analyst Michael Pachter blamed the decline on issues that information of a breach might damage growth and consumer involvement.

“Certainly, a breach such as this impairs user confidence in the system,” he explained.

Separately, security software maker Trend Micro Inc said in a site before on Monday that attackers shipped out two tweets in October in an effort to steal information from previously infected servers.

The hackers concealed directions in tweeted memes that covertly ordered infected apparatus to deliver information, such as user names, display images, and other articles, Trend Micro said.

The Twitter spokesman declined to comment about the Trend Micro report.