For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

How an erroneous tweet helped hacker make millions?

|

An false tweet from a hacker, who entered into the Associated Press Twitter account reporting of explosions at the White House could have caused investors to lose money and the hacker to make millions.

Stocks nosedived following a false AP tweet that reported that the White House had witnessed an explosion and that President Obama had been injured. The AP confirmed its Twitter account was hacked and the spokesman said the tweet was "bogus."

 

The hacker could possible have shorted before posting the erroneous tweet and after the fall could have covered his positions. It took several minutes to notify that the news was false. Investors who sold on the news could have lost millions, as there was a swift gains on the Dow after reports denying the news.

After the erroneous tweet the Dow Jones plunged 144 points and later ended the day gaining 150 points.

GoodReturns.in

Read more about: twitter
Story first published: Wednesday, April 24, 2013, 11:32 [IST]
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

Find IFSC

We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more