Twitter Denies Hacker Claim that Employee Assisted in Massive Breach

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"Twitter needs to explain how all of these prominent accounts were hacked", he said in a tweet.

Experts claim that a breach of this nature suggests that hackers may have gained access at the system level, rather than getting access to individual accounts.

The massive multi-industry scam reportedly began on Musk's account, when at 4:16 PM EDT it tweeted: "I'm feeling generous because of Covid-19".

The scam tweets started appearing around 1 p.m. PDT this afternoon. Twitter said it was looking into other potential malicious activity in its security update.

A public record of the cryptocurrency wallet showed hundreds of transactions, amounting to over $100,000, in just a few hours. The hack eventually used the famous twitter accounts to scam crypto investors by asking them for bitcoin deposits. The company has fallen victim to attacks from insiders before, including in a case previous year when the Justice Department charged two former Twitter employees with spying for Saudi Arabia by accessing company information about dissidents' accounts.

"We are aware of a security incident impacting accounts on Twitter", the company confirmed. A Twitter spokesperson said in an email to Fast Company that the company didn't have any updates on the investigation beyond what's been shared via a company tweet thread.

Apple, Barack Obama, Bill Gates, Binance, Bitcoin, CashApp, Charlee Lee, Coinbase, Coindesk, CZ_Binance, Elon Musk, Gate.io, Gemini, Jeff Bezos, Joe Biden, Justin Sun, Kim Kardashian-West, Kucoin, Mike Bloomberg, MrBeast (YouTuber), Tron, Warren Buffet, Wendy's, Wiz Khalifa, and Uber.

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Additionally, Twitter says it has also made some changes internally with limit access to internal systems and tools.

It's not clear how the hackers got around Twitter's multi-factor authentication or whether any user data was stolen; Jacqui Heinrich reports.

While the scam itself was worrying enough - the account raked in tens of thousands of dollars - the much bigger concern is, of course, that the Twitter accounts of some of the richest and most influential people on earth could be simultaneously compromised and hijacked with such apparent ease.

Indeed, in November 2017 Trump's account was deactivated for 11 minutes by a Twitter employee on their last day on the job.

Right now, a number of affected individuals are reporting they can not log into their accounts or change their passwords.

That could mean blackmailing or bribing someone to gain access to accounts or even an insider carrying out a hack themselves.

"As a trader of equities, commodities, or fixed income, one would be remiss in not having some automatic Twitter feed", said Tom di Galoma, director of government trading and strategy at Seaport Global Holdings in NY.

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