Twitter hack: Security wasn’t up to the mark

Twitter suffered from cybersecurity shortfalls that enabled a “simple” hack attributed to a Florida teenager to take over the accounts of many famous people in July, according to a report by New York’s Department of Financial Services. It recommended that the largest social media companies be deemed systemically important, like some banks following the 2008 financial crisis, with a dedicated regulator monitoring their ability to combat cyberattacks.

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