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Twitter stock pumped by bogus story about $31 billion buyout offer

  • July 19, 2015
  • 1 reply
  • 9 views

Jasper_The_Rasper
Moderator
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by Lisa Vaas on July 19, 2015
 
                                                


 
Fraudsters who posted a fake news story didn't even bother to spellcheck the name of Twitter's former CEO, but the story nonetheless briefly caused the company's stock to spike.
 
The article, rigged to look like it came from Bloomberg, appeared online on Tuesday.
 
It claimed the company had received a $31 billion buyout order (about £19.8 billion).
 
Spokesmen for both Bloomberg and Twitter called the story fake.
 
The real Bloomberg reported that the US Securities and Exchange Commission (SEC) is looking into the possible pump-n-dump market manipulation.
 
Full Article.

1 reply

Nemo
Community Leader
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  • Community Leader
  • July 21, 2015
Interesting article Rasper - I imagine the fraudsters made quite a killing with options!
 
There is a good article on phishing from a couple of years ago in your attached article if anyone is interested:
https://nakedsecurity.sophos.com/2013/04/19/anatomy-of-a-phish-how-to-spot-a-man-in-the-middle/