SafeUM
Home Blog Services Download Help About Recharge

Axarhöfði 14, 110 Reykjavik, Iceland

Iceland - 2015
SafeUM
Blog
Services
Download
Help
About
Recharge
Menu
Archive
TOP Security!
15 Jul 2015

Fake Bloomberg report spikes Twitter shares

A fake news report purportedly from Bloomberg about a possible $31 billion takeover of Twitter spurred a five percent surge in the social network's shares Tuesday before it was denied.

The report appeared on a "Bloomberg.market" web page virtually identical to the powerful financial news agency's real pages at "Bloomberg.com", and with links to other real Bloomberg reports.

The fake report said Twitter "is working closely with bankers after receiving an offer to be bought out for $31 billion," citing, as news agencies frequently do in such reports, "people with knowledge of the situation." The report came out at about 11:35 am and sent Twitter's shares jumping from $36.90 to $38.82 in minutes. Fifteen minutes later, though, the shares fell back to near where they started. "The story was fake and appeared on a bogus website that was not affiliated with Bloomberg," said Bloomberg spokesman Ty Trippet. The agency itself reported that the website domain had been registered several days ago by someone in Panama.

Shares in Twitter were still up 3.3 percent over Monday's close in early afternoon trade at $36.96. The shares though are sharply down from the year's peak of just over $53 in April, with investors showing concern over the company's ability to build income on its hugely popular micro-messaging platform.

Last month, the Securities and Exchange Commission charged a Bulgarian man with abusing the agency’s online database for company filings to submit the false takeover bid for Avon and for Rocky Mountain Chocolate Factory. And last year, shares in G4S, the British security services company, plunged after a fake statement claiming that the business had unearthed accounting problems. Such efforts try to force a short-term move in the stock, enough for the perpetrator to collect a tidy profit through well-timed stock purchases or sales.

The fake Bloomberg report about Twitter possessed a level of technical sophistication rarely seen in such ruses. The article page closely resembled a standard Bloomberg report, with many of the links going to real parts of the news organization’s website.

Tags:
Twitter fraud
Source:
Yahoo News
2061
Other NEWS
3 Jul 2020 safeum news imgage An encrypted messaging service has been infiltrated by police
4 May 2020 safeum news imgage Two-Factor Authentication ​What Is It and Why You Should Use It
12 Dec 2019 safeum news imgage Encryption is under threat - this is how it affects you
4 Nov 2019 safeum news imgage Should Big Decisions Be Based on Data or Your Intuition?
7 Jun 2018 safeum news imgage VPNFilter malware infecting 500,000 devices is worse than we thought
4 Jun 2018 safeum news imgage Hackers target Booking.com in criminal bid to steal hundreds of thousands from customers
1 Jun 2018 safeum news imgage Operator of World's Top Internet Hub Sues German Spy Agency
30 May 2018 safeum news imgage US says North Korea behind malware attacks
29 May 2018 safeum news imgage Facebook and Google targeted as first GDPR complaints filed
25 May 2018 safeum news imgage A new reason to not buy these cheap Android devices
24 May 2018 safeum news imgage Flaws in smart pet devices, apps could come back to bite owners
23 May 2018 safeum news imgage Google sued for 'clandestine tracking' of 4.4m UK iPhone users' browsing data
21 May 2018 safeum news imgage LocationSmart reportedly leaked phone location data onto the web
18 May 2018 safeum news imgage The SEC created its own scammy ICO to teach investors a lesson
17 May 2018 safeum news imgage Thieves suck millions out of Mexican banks in transfer heist
All news
SafeUM
Confidential Terms of Use Our technologies Company
Follow us
Download
SafeUM © Safe Universal Messenger

Axarhöfði 14,
110 Reykjavik, Iceland

Iceland - 2015