Twitter Being Investigated By SEC Over Data Hack Showing Why Web3 Is Crucial
We see keep seeing the same story happening over and over.
The SEC is investigating Twitter over a data hack back in 2018. This is targeting the old management not notifying shareholders of the potential risk (I presume financial).
In this video I discuss how we keep seeing this with centralized entities. The data that these companies (retail, financial, or social media)house is a honeypot for hackers. It is another reason for us to work on decentralization.
▶️ 3Speak
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Twitter is a good option in my point of view, perhaps the most liberal and well-known network we have on web2, of course it has its limitations, but certainly Hive as web3 and now Threads which is getting better and better with the latest updates and rebrand, it seems to me that more and more web2 networks are becoming just a memory of the past.
Indeed, very well said! Facebook also has its limitation and restrictions, while we are at it. Just an additional example of a web2 social media platform which isn't entirely ok. All the best!
Then I'm glad I haven't been using Twitter for such a long time and it was just a couple of years at most thing, so to put it. Micro-blogging here on HIVE is far more rewarding, for real! Best regards!
These "DATA LEAKS" are so prevalent. Equifax share price went when they were fined.
I suspect that these "LEAKS" are actually "SALES" as the fine is a small fraction of the value of the information,, which they rarely pay anyway, and no one EVER gets jailed.
Information Slavery
Summary:
In this video, the speaker discusses the SEC's investigation into a security breach at Twitter that occurred pre-Elon Musk's involvement. The SEC is looking into a data breach from 2018 and focusing on the failure of leadership to inform shareholders about the breach. The conversation revolves around the importance of data security, the vulnerabilities of centralized entities like Twitter, and the need for decentralization, blockchain technology, and encryption to enhance security. The speaker emphasizes the risks associated with centralized platforms and the benefits of spreading information across decentralized networks.
Detailed Article:
The video delves into the SEC's inquiry into a security breach at Twitter dating back to 2018, signaling concerns about the lack of disclosure to shareholders by the leadership at that time regarding this breach. The focus is on the distinction that this investigation is not related to Elon Musk, who acquired Twitter later, making it clear that if any criminal activities are uncovered, they would likely be directed at the previous management. The presenter underscores the need for transparency and notification to shareholders, pointing out the regulatory requirements around data breaches and the potential liabilities involved.
The conversation then shifts to a broader discussion on data security, highlighting the vulnerabilities of centralized platforms such as Twitter and the risks associated with them being honeypots for hackers. The speaker contrasts decentralized platforms such as Hive, emphasizing the advantages they offer in terms of security due to their distributed nature. The importance of blockchain technology and encryption in safeguarding data is underscored, with the speaker advocating for a layered approach to security to mitigate hacking risks.
The video extends the discussion to explore practical aspects of security measures, touching on the concept of spreading data across multiple smart contracts to minimize risks of single-point vulnerabilities. The necessity of avoiding honeypots of valuable information is emphasized, pointing out the prevalence of data breaches across various sectors like finance, social media, and government institutions. The speaker then brings attention to the need for ongoing dialogue and awareness around data security issues, especially in light of the increasing incidents of cyberattacks on centralized entities.
In conclusion, the video stresses the imperative of prioritizing data security in an era of heightened cyber threats, advocating for a decentralized approach to mitigate risks associated with centralized platforms. The speaker encourages viewers to be mindful of the vulnerabilities inherent in centralized entities and underscores the value of blockchain technology and encryption in enhancing data protection.
Notice: This is an AI-generated summary based on a transcript of the video. The summarization of the videos in this channel was requested/approved by the channel owner.