Twitter security under spotlight after phishing blamed for disastrous AP Tweet

Twitter is said to be testing new security systems in the wake of a false Tweet from an official Associated Press account which sent stock markets tumbling in America.

The Tweet, posted by hackers to the official @AP account, claimed that the White House had been bombed. It caused panic, wiping 143 points off the Dow Jones in minutes, with one trader describing events as “pure chaos”.

The AP said, “The attack was preceded by phishing attempts on AP’s corporate network.” In the wake of several such high-profile attacks Twitter is currently testing a new two-step verification solution, according to a report in Wired.

Wired reports that Twitter already has a working two-step authentication system, which it is testing internally. Such systems help prevent unwanted access to systems by demanding a code (often sent to mobile devices such as smartphones), when users access a network from a new location.

The FBI is now probing the incident.

ESET’s David Harley explains the benefits of two-factor authentication in a post here.

Author Rob Waugh, We Live Security

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