Social Engineering is a type of hacking technique that involves victim manipulation with the intention of obtaining information about an organization.
In this case, the attacker, as explained by the US Cybersecurity and Infrastructure Security Agency, gains the confidence of a victim by appearing ‘unassuming and respectable.’ some attackers pose as an employee or maintenance person and produces credentials that look genuine. In this form of hack, the attacker gains information on a company’s network by asking questions; they, in turn, may use the information obtained to appear credible when approaching employees within an organization.
Other techniques include: ‘Baiting’ an employee, tailgating, or offer money for an employee password that is quid pro quo as described by the EU Agency for Cybersecurity (ENISA).
For Twitter, the company says several employees’ accounts were compromised when they were tricked into giving up credentials, the employees according to Twitter “had access to internal systems and tools.”
A hacker, claiming to be part of those who orchestrated the attack, told Motherboard that they “used a rep that literally did all the work,” though there are contrary claims that an insider was paid to facilitate the attack.
Earlier, |Afroway reported that the social media giant had been compromised with hackers targeting accounts belonging to high profile individuals. The attackers then tweeted requesting cryptocurrency donations in form of Bitcoins from followers. The scammers reportedly received $100,000 worth of cryptocurrency. The New York Times reports that crypto exchanges like Coinbase and Binance are working to block transactions involving the affected accounts.
According to a report on TechCrunch, Twitter stock “slid as much as 4% in after-hours trading” as the company attempted to deal with the impact of the attack on its platform. The company shaded $1.3 billion off its market value.
Twitter is still assessing the impact of the attack described as the worst to have ever hit the company, and now a concern that the attack could be a global security crisis.
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