News

Twitter Admits Data Breach Compromised Anonymous Accounts

Twitter has released an official statement admitting that it was unable to confirm the number of profiles exposed, but expects the figure to top 5.4 million.

Published

2 years ago

August 9, 2022

Nour Nasir

twitter admits data breach compromised anonymous accounts

Twitter has released a statement acknowledging that in December 2020, a coding error resulted in a data breach of user information. A hacker exploited the flaw before it was discovered and subsequently patched in January 2022.

The vulnerability allowed malicious actors to submit an email address or phone number to verify if it was associated with an existing Twitter account. Hackers could then access the associated account ID, linking the information together.

A researcher uncovered the coding flaw through Twitter’s Bug Bounty program. The social media giant claimed that the vulnerability hadn’t been exploited before engineers were made aware of the issue. However, a hacker who contacted the website Bleeping Computer disputed the official narrative, claiming to have gained access to over 5.4 million user accounts via the flawed code and offering to sell the data for $30,000.

After reviewing the compiled database, Twitter responded with an official statement:

“Because we can’t verify every account that may have been affected, we’re releasing this alert because we’re particularly concerned about people using pseudonymous accounts who may be targeted by the state or other actors. If you use a pseudonymous Twitter account, we realize the hazards that an occurrence like this might bring and we profoundly regret that this happened.”

Also Read: Report Highlights $7.45 Million In Damages From Data Breaches Across The Middle East

Owners of accounts that have been compromised due to the data breach will be notified by direct message from Twitter, with the company advising those who wish to remain anonymous online not to associate a publicly available email or phone number with their account.

Because two or more individuals have already purchased and gained access to the leaked data, users should be wary of targeted phishing scams trying to gain access to login credentials. Although no passwords were revealed during the initial breach, Twitter advises all users to adopt two-factor authentication for an extra layer of security.

News

Mamo Completes $3.4M Funding Round To Enhance Fintech Services

The startup will use the influx of cash to expand into Saudi Arabia and across the wider GCC while improving its product offering.

Published

2 days ago

July 25, 2024

Nour Nasir

Mamo

UAE-based fintech Mamo has announced the completion of a $3.4 million funding round that will help the startup extend its market presence and improve its product offering. Investors included 4DX Ventures, the Dubai Future District Fund and Cyfr Capital.

Mamo’s platform offers “payment collection, corporate cards and expense management” to help small and medium-sized businesses consolidate and streamline their operations. With the latest influx of capital, Mamo will further develop its comprehensive suite of services and begin testing its product lines in Saudi Arabia, further extending its footprint across the GCC.

Imad Gharazeddine, co-founder and CEO of Mamo, stated: “We’ve been in the market for a while now and are incredibly proud of what our team has achieved. The holistic and expansive nature of our product offering has helped us continue to grow sustainably. This additional funding will allow us to reach our medium-term goals even faster. The support from new and existing investors is a testament to our strong expertise and the ability to deliver on our customer promise”.

Daniel Marlo, General Partner of lead investor 4DX Ventures, added: “We have immense trust in Imad’s vision, leadership and Mamo’s innovative approach to provide a user-friendly and comprehensive financial solution for SMEs that makes financial management more accessible and efficient. We are proud to partner with them and support their mission”.

Also Read: A Guide To Digital Payment Methods In The Middle East

Amer Fatayer, Managing Director of Dubai Future District Fund’s investment team, also commented: “Mamo’s localized product lines serve as an infrastructure for SME payments and spend management in UAE, a segment that is underserved by the country’s current banking infrastructure. The team has taken a product-first approach to consolidating SMEs’ financial journeys and building a fintech solution deeply embedded in a business’s core operations”.

To date, Mamo has raised around $13 million in investment funding and now boasts a team of 30 people. The company’s intuitive financial services platform has allowed over 1,000 businesses to consolidate their financial operations and significantly reduce payment fees.