Another major controversy erupted around Twitter after a whistleblower revealed that the social media giant had lied to regulators about spam accounts. Elon Musk had charged Twitter with withholding material information about the $44 billion transaction.
Peiter Zatko, Twitter’s former security chief, reportedly told Reuters that the company allegedly fabricated its hackers and spam accounts’ data. He claimed that Twitter management lacked the tools necessary to determine the precise amount of bots present across the various networks. He emphasizes that they take too long to obtain the information.
The Securities and Exchange Commission (SEC), the Department of Justice, and the Federal Trade Commission all received Zatko’s complaint last month.
According to the report, the former security chief for Twitter declined to react when asked for comment. Elon Musk, the CEO of Tesla, and the social media giant are already engaged in court proceedings.
The world’s richest person denied pursuing the Twitter accusation. Musk said that the social media behemoth was concealing important information in violation of the agreement. He said Twitter didn’t disclose how they determine the percentage of bots using the service. The trial, though, is set for October 17, 2022.
Is the timing right for Twitter?
Prior to this, Twitter reported a reduction in revenue due to the legal dispute with Musk. Even the CEO of Tesla was accused by the social media firm of their defeat. In 2022, its revenue fell from $1.19 billion to $1.18 billion. Additionally, the corporation fell short of the $1.32 billion average analyst projection. While it reported a $270 million loss.
Zatko, also known as its hacker alias “Mudge,” announced in January that he no longer serves as the position’s head of security. However, the business stated that he was let go due to his subpar performance. Musk raised concerns about Twitter’s security at the same time Zatko’s most recent claim caught everyone’s attention.
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Source: https://coinpedia.org/news/twitter-lands-into-another-trouble/