Someone thought it would be cute to hack the AP's Twitter Account and post a message that the White House had been bombed. Markets reacted quickly. Too quickly.
April 23, 2013

Screen Shot 2013-04-23 at 12.08.59 PM.png

That is a real tweet sent out by the real Associated Press account, but the AP didn't write it or send it. It seems the account was hacked by a group calling themselves the Syrian Electronic Army.

It took about 30 seconds for savvy Twitter users to figure out the hack, comparing style and syntax to normal AP tweets, but the markets had already reacted.

market-reax-BI.png

The AP says their accounts had been the targets of repeated phishing attempts over the past few days.

The false tweet said there had been two explosions at the White House and that President Barack Obama was injured. The attack on AP's Twitter account and the AP Mobile Twitter account was preceded by phishing attempts on AP's corporate network.

Market loss in that short 100-point dip was estimated to be $100 billion or so. They bounced right back as soon as the tweet was confirmed to be the result of a hack, but it certainly highlights how real time information flows can be used to game the markets. I'll be interested to discover whether anyone profited from that brief dip in stock values.

Can you help us out?

For 17 years we have been exposing Washington lies and untangling media deceit, but now Facebook is drowning us in an ocean of right wing lies. Please give a one-time or recurring donation, or buy a year's subscription for an ad-free experience. Thank you.

Discussion

We are currently migrating to Disqus

On May 14, 2022, we started migrating our comments from Insticator back to Disqus. During this transition period, some posts will have Insticator and some Disqus. For more information on the transition, as well as information regarding old C&L accounts, please see this post.


We welcome relevant, respectful comments. Any comments that are sexist or in any other way deemed hateful by our staff will be deleted and constitute grounds for a ban from posting on the site. Please refer to our Terms of Service for information on our posting policy.