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Elon Musk buys 10% of Twitter

Uglytruth

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Elon Musk Countersues Twitter​

By Cristina Laila
Published July 29, 2022 at 8:50pm
85 Comments
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Elon Musk on Friday filed a countersuit against Twitter after the social media giant scheduled a vote on the deal after Musk canceled the purchase.
The 164-page lawsuit was filed under seal in Delaware’s Court of Chancery, the New York Post reported.
The New York Post reported:
Elon Musk filed a countersuit against Twitter on Friday, escalating his legal battle with the social media company over his abandoned $44 billion agreement to take over the site.
TRENDING: EPSTEIN’S SEX CLIENTS: Gateway Pundit Files Legal Action to Unseal and Identify The Global Elite Scumbags That Abused Trafficked Minors
The 164-page suit was filed under seal just before the judge-imposed 5 p.m. deadline, so its contents were not immediately visible to the public. Under court rules, a partially redacted version may be available next week.
The Post first reported Musk’s plans for the counter-suit, which was filed in Delaware’s Court of Chancery.
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“I have reviewed the counterclaims and declare that the matter contained therein insofar as it concerns my acts and deeds is true, and insofar as it relates to the acts and deeds of any other person, I believe it to be true,” said an accompanying filing signed by Musk.
Twitter shares ticked down 0.3% on the news.
Despite Elon Musk canceling his offer to purchase the company, Twitter has scheduled a vote on the deal for September.
Earlier this month, Elon Musk sent Twitter a letter announcing that he was canceling the deal to purchase Twitter because Twitter has not provided information on how bots are calculated at the site. This is pertinent due to the advertising dollars based on real accounts and not bot accounts. The problem for Twitter is that it has been reporting that 5% or less of its accounts are bots.
Now Twitter announces that it will hold a vote on Musk’s purchase of the company after Musk already canceled the deal?
 

chris_is_here

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The judge (or "chancellor", if you prefer) is a DNC political appointee and a Haa-vad graduate, so little doubt where her loyalties lie. Her first decision to allow a speedy trial was a win for Twitter. There's no jury involved, so it's 100% her call. TWTR is busy erasing the evidence of their fraud by scrubbing bots from their platform, so if it even comes down to that question (I don't think it will), Elon could get creamed. If bot numbers are an issue, the burden would be on Elon to prove that the number of bots was higher than claimed at the time of his offer, as opposed to now.

While the chancery court cannot legally force Musk (as an individual) to actually buy TWTR (or perform any specified action on constitutional grounds), they can impose a monetary award. I'm not sure how the hell they would do that, since any damages would presumably be based on the economic loss to TWTR and its shareholders as a result of the breach of agreement - I don't know if punitive damages would be relevant here.

No way in hell is this judge going to rule in Musks' favor, it will come down to some sort of compromise that leans in favor of TWTR.
 

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Unca Walt

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Somebody losted their ass. Jeez... short enough to drive TSLA down @50% in 30 days...

And on the 30th day, they shorted without effect. Their "best" low point $$ dollars ($600) now have to pay $900. 50% haircut in 60 days... :zombie:
 

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The judge does not seem favorable to Musk, but worst case for Musk is he buys the company for what he agreed to pay and he has already exposed their fraud. He can then go back and sue the officers and directors personally for securities fraud.

More likely he gets the company at a significant discount because Twitter did admit 3 days after Twitter signed the merger agreement that they had misstated the numbers. They have also not fully complied with the information rights Musk negotiated for in the contract. That would come about through an out of court settlement which the judge would encourage. The settlement favors Twitter because they don't risk a lenghty appeal. The settlement favors the judge because she is on weak ground legally due to Twitter's acknowledged misstatements and a settlement allows her to avoid getting overturned on appeal, which is embarrassing professionally.
 

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Don't forget all the influincers that went from 500,000 viewers to 5000. Where did 495,000 go? Also public knowledge and admitted that brandon's followers was cut amost in half............ so proof & deception is already public and admitted to.
 

gnome

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Somebody losted their ass. Jeez... short enough to drive TSLA down @50% in 30 days...

And on the 30th day, they shorted without effect. Their "best" low point $$ dollars ($600) now have to pay $900. 50% haircut in 60 days... :zombie:
Hard to guess what the actually positions were and how they might be defended.

Hopefully Bill Gates got shafted. Not sure if he still had a short position.
 

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Hard to guess what the actually positions were and how they might be defended.

Hopefully Bill Gates got shafted. Not sure if he still had a short position.
True dat, but no matter how individuals' positions were handled, the gestalt is the shorters as a coandunatio lost 50% in 60 days.
 

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Evidence Revealed by Elon Musk's Countersuit So Damning to Twitter it had to be Filed Under Seal​


Five minutes before the deadline, Elon Musk’s lawyers filed a 146-page counterclaim against Twitter under seal.1 What little we do know is that the billionaire included the famous Warren Buffett quote, “Only when the tide goes out do you discover who’s been swimming naked,” as he referenced Twitter’s obfuscation about the number of real humans who actually use the platform. Earlier today Elon pointed out that interactions on Twitter seem to have declined in recent weeks:

1659275277891.png


FWIW - as soon as I get a copy of the counterclaim I’ll cover it here.

source:
.
 

gnome

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Musk sold $6.9 B of Tesla stock to have cash on hand just-in-case he is forced to buy twitter at original offer and financing partners fall through.
Everything is aligning for this stock to rocket on earnings in Q3 and Q4.
Screen Shot 2022-08-10 at 11.30.06 AM.png
 

Uglytruth

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No way he pays full price. Maybe 1/3 or less of his offer at the most.
 

gnome

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No way he pays full price. Maybe 1/3 or less of his offer at the most.
Most likely. But it could get really ugly for TSLA if the market collectively knew he had to sell $8B suddenly on a court order. Just smart risk mitigation.

FYI, tesla profit is going to double by the end of the year.
 

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Insiders and officers file form 105b-1 so they can’t be accused of insider trading

Generally they announce intention to sell, usually 20 days

This lets the markets reaction to news have time to be reflected in the price

It’s his money and he should be able to sell when he wants but I don’t know if TSLA has a minimum ownership requirement for officers and where he falls in this. I suspect he owns way more than required

I think everyone on earth understands he’s selling to raise twitter funds (optionality) and not because he’s timing the market as a insider fearing Teslas future
 

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No way he pays full price. Maybe 1/3 or less of his offer at the most.
I want to know how many bots live there... that will determine price.
 

Uglytruth

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I want to know how many bots live there... that will determine price.
What if it's 75%. All the ad revenue was overcharges for fake bots. Thieft by fraud. This is about more than stock price, buying price, ad revenue, not only supressing free speech it molded the narrative. I see this being used against the papers, news, magazines, tv shows etc......
 

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Some sort of shit will go down. Twitter as a communications mechanism is too valuable to the elite. The same way Drudge was.

Also, this is all for show. Tesla is a government contractor and musk's SpaceX has military applications. He's one of them even though he pretends he's not.
 

hammerhead

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Some sort of shit will go down. Twitter as a communications mechanism is too valuable to the elite. The same way Drudge was.

Also, this is all for show. Tesla is a government contractor and musk's SpaceX has military applications. He's one of them even though he pretends he's not.
Yup, he was praising the big spending package.
 

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What if it's 75%. All the ad revenue was overcharges for fake bots. Thieft by fraud. This is about more than stock price, buying price, ad revenue, not only supressing free speech it molded the narrative. I see this being used against the papers, news, magazines, tv shows etc......
It may very well be that high. I've seen people make some great points about "engagement" with stuff put out by MSM such as the "NYT". The NYT will get a couple dozen (at most) retweets of their material while someone (intentionally) posting photos of a cat or some mundane crap got thousands of retweets as an demonstrative exercise a while back.
 

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Judge rules Twitter must turn over documents to Elon Musk.​

 

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Unca Walt

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They be runnin' outa rooms to slam doors to. Looks purty much like the last room has only a window. 22 storeys up.
 

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HUGE: Former Security Chief at Twitter Alleges Company Endangered National Security Through “Egregious Deficiencies”​

By Jim Hoft
Published August 23, 2022 at 8:00am

Twitter’s former security chief Peiter “Mudge” Zatko alleges in a breaking TIME magazine report that Twitter executives endangered national security through “egregious deficiencies” in privacy and security.

Zatko, a former hacker, also claims the company systematically misled users, investors, and board members about the deficiencies.

Zatko also claims he was fired by CEO Parag Agrawal after Zatko began documenting what he says were repeated security violations,


Peiter Zatko reportedly leaked several documents to TIME Magazine for this report.

Twitter hired the former hacker back in 2020 to run security at the company.


This news comes an inopportune time for the company. Elon Musk currently alleges in his legal dispute with the company that Twitter was not open about the the percentage of spam bots and fake accounts that make up its user base.

It appears Elon Musk was correct.

TIME Magazine reported:

The former official, Peiter “Mudge” Zatko, is a famous hacker and one of the nation’s top cybersecurity experts. He served as Twitter’s security lead from Nov. 2020 to Jan. 2022, when he was fired by CEO Parag Agrawal after Zatko began documenting what he says were repeated security violations, and as he worked with the company’s compliance officer on a formal investigation based on his claims. Zatko submitted his disclosures to U.S. regulatory agencies in July, invoking federal whistleblower protections, and they were shared with members of Congress.​
In 84 pages of disclosures and supporting documents, which TIME reviewed, Zatko accuses the $33 billion social-media platform’s top executives of violating the Federal Trade Commission Act and Securities and Exchange Commission regulations by misleading users, investors and board members about critical data security and privacy issues. These vulnerabilities led to frequent serious security breaches, exploitation by bad actors, and infiltration by foreign governments, Zatko alleges.​
The documents shine a light on what Zatko alleges are years of basic security failings at Twitter, which he says make the platform vulnerable to abuse and even total collapse. Notably, the disclosures imply that the problems were allowed to fester under Agrawal, who was the most senior executive in charge of security issues before Zatko arrived. “If these problems are not corrected, regulators, media, and users of the platform will be shocked when they inevitably learn about Twitter’s severe lack of security basics,” Zatko wrote in a Feb. 2022 document cited in the disclosure.​
The disclosures come just weeks before the first scheduled court date in a legal dispute over the pending sale of the company to billionaire Elon Musk, who is seeking to extricate himself from an agreement to purchase the company. Musk claims Twitter misled him and investors about the percentage of spam bots and fake accounts that make up its user base. According to internal company emails submitted as part of the disclosures, Zatko began documenting Twitter’s alleged wrongdoings months before Musk publicly announced his desire to buy the company. The trial over whether Musk must go through with his initial agreement to buy Twitter is set to start on Oct. 17 in Delaware.​
 

Uglytruth

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^^^^^ Double agent?
 

Unca Walt

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Ahh Twitter Biggies... shoulda known the basic rule:

Never take your glove and smack your opponent's face with it (eg: firing Zatko) while leaving your balls completely unprotected (eg: Zatko has all the data, and probably has had the lock changed on the executive bathroom to boot). They are receiving a ninety-amp ball kick right now.

They are gonna cry big time.

They got into this entire tsimmis -- now grown really personally dangerous to them -- simply because of careless, haughty arrogance.
 

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“If these problems are not corrected, regulators, media, and users of the platform will be shocked when they inevitably learn about Twitter’s severe lack of security basics,” Zatko wrote in a Feb. 2022 document cited in the disclosure.
and they have EVERYONE'S phone number to verify ID....
 

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Ahh Twitter Biggies... shoulda known the basic rule:

Never take your glove and smack your opponent's face with it (eg: firing Zatko) while leaving your balls completely unprotected (eg: Zatko has all the data, and probably has had the lock changed on the executive bathroom to boot). They are receiving a ninety-amp ball kick right now.

They are gonna cry big time.

They got into this entire tsimmis -- now grown really personally dangerous to them -- simply because of careless, haughty arrogance.

Maybe they thought the clowns would protect them.
 

specsaregood

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and they have EVERYONE'S phone number to verify ID....
Not everyones, they didnt use to require it. At least they didnt when i setup my account.
 

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Judge Orders Twitter to Share User Audit With Elon Musk​

By Frank Fang

August 26, 2022 Updated: August 26, 2022

A Delaware judge has ordered Twitter to turn over more data to Elon Musk in two weeks, but stopped short of giving the Telsa chief all the data he wanted, saying his requests were “absurdly broad.”

paywall
 

Uglytruth

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wanted, saying his requests were “absurdly broad.”
Wonder how many multi billion dollar deals the judge has done............
 

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Former CIA and FBI security specialist says more than 80 per cent of Twitter accounts are ‘bots’​


More than 80 per cent of Twitter accounts are likely bots, according to former CIA and FBI cyber security specialist Dan Woods, who created a fake profile and quickly gained more than 100,000 fake followers in one weekend by purchasing them on the dark web.

Mr Woods, who studies bot traffic as part of his current role with global cyber security provider F5, told The Australian that Twitter’s bot traffic was almost certainly far greater than it has expressed publicly and greater than it believes internally.

Twitter is currently embroiled in legal action with tech billionaire Elon Musk about the number of bots on its platform.

Mr Musk’s lawyers have subpoenaed Twitter whistleblower Peiter “Mudge” Zatko, the company’s former security chief, who has accused Twitter of negligent security procedures and that it knowingly downplayed the level of bot activity on its platform, which Mr Musk has cited as a key reason for backing out of a deal to buy the company for $US44bn.

Twitter chief executive Parag Agrawal said in a Twitter thread that bots make up less than 5 per cent its “monetisable daily active users”, while Mr Musk has said that number is false and the company “failed or refused to provide” further information about spam bots on its platform.

In an interview, Mr Woods said he recently created a fake Twitter account to learn more about how the company handles bots.

He spent less than $1000 on the dark web to third parties and quickly gained more than 100,000 Twitter followers – all of which were fake.

“I’m not a programmer, but I watched YouTube and in a weekend I wrote a script that automatically creates accounts on Twitter without encountering any obstacles,” he said.

“There’s huge demand (for bots), there’s a marketplace to serve that demand and if I can write a bot that creates accounts on Twitter, and I’m not even a programmer, imagine what a sophisticated programmer could do.

“Twitter doesn’t want (its number of bots) to be that high, so they’re going through the motions of cancelling some accounts.

“I’m not saying they’re lying, but we’ve really studied these accounts and we’ve come to the conclusion that there are a lot more fake accounts than Twitter is letting on.”

Mr Woods added that allowing bots to proliferate anywhere, be that Twitter or other platforms, can lead to massive fraud that costs billions of dollars – and also provides tools for nations and bad actors to spread misinformation and influence political processes.

A Twitter spokesman said the company typically removed more than one million spam accounts each day, and used both public and private data to determine if an account were real or not.

“Less than 5 per cent of reported quarterly monetisable daily active usage or users (mDAU) are spam accounts,” the spokesman said.

“Twitter defines mDAU as people, organisations, or other accounts who logged in or were otherwise authenticated and accessed Twitter on any given day through Twitter.com, Twitter applications that are able to show ads, or paid Twitter products, including subscription.”

Mr Woods’ career began 30 years ago as a policeman in Phoenix, Arizona, and he eventually became an FBI agent and then a CIA cyber operations officer, before his current role as F5’s global head of intelligence.

He said the biggest misconception about those government agencies was that there was a “Jason Bourne”-type officer who did everything.

“Jason Bourne does not exist inside the CIA,” he said.

“In order for a team to accomplish everything that someone like Jason Bourne does, it takes a couple dozen people.

“You have somebody who specialises in lock defeat. You have somebody who specialises in alarm defeat. You have somebody who specialises in flaps and seals, and all they do is open packages and reseal them in such a way that nobody can tell they’ve ever been opened or resealed.

“There are dozens of other roles, of people with very specialised skills. There’s not one guy that does all those things; it’s a team of two dozen people.”

He added that the best way for Australia to address its current cyber security skills gap was for businesses to stop caring about university degrees.

“Oftentimes applicants went to Stanford and have a masters in computer science, which is impressive on paper, but I was more inclined to hire somebody who doesn’t have any degree, they’re entirely self taught and learn the science because they love it, not because they’re graded on it,” he said.

“One of the questions I like to ask is ‘how many computers do you have?’, and if they say one I’m less interested. But if someone says they have nine, that’s a far better indication of passion for the trade than getting good grades at Stanford.”

 

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Former CIA and FBI security specialist says more than 80 per cent of Twitter accounts are ‘bots’​


More than 80 per cent of Twitter accounts are likely bots, according to former CIA and FBI cyber security specialist Dan Woods, who created a fake profile and quickly gained more than 100,000 fake followers in one weekend by purchasing them on the dark web.

Mr Woods, who studies bot traffic as part of his current role with global cyber security provider F5, told The Australian that Twitter’s bot traffic was almost certainly far greater than it has expressed publicly and greater than it believes internally.

Twitter is currently embroiled in legal action with tech billionaire Elon Musk about the number of bots on its platform.

Mr Musk’s lawyers have subpoenaed Twitter whistleblower Peiter “Mudge” Zatko, the company’s former security chief, who has accused Twitter of negligent security procedures and that it knowingly downplayed the level of bot activity on its platform, which Mr Musk has cited as a key reason for backing out of a deal to buy the company for $US44bn.

Twitter chief executive Parag Agrawal said in a Twitter thread that bots make up less than 5 per cent its “monetisable daily active users”, while Mr Musk has said that number is false and the company “failed or refused to provide” further information about spam bots on its platform.

In an interview, Mr Woods said he recently created a fake Twitter account to learn more about how the company handles bots.

He spent less than $1000 on the dark web to third parties and quickly gained more than 100,000 Twitter followers – all of which were fake.

“I’m not a programmer, but I watched YouTube and in a weekend I wrote a script that automatically creates accounts on Twitter without encountering any obstacles,” he said.

“There’s huge demand (for bots), there’s a marketplace to serve that demand and if I can write a bot that creates accounts on Twitter, and I’m not even a programmer, imagine what a sophisticated programmer could do.

“Twitter doesn’t want (its number of bots) to be that high, so they’re going through the motions of cancelling some accounts.

“I’m not saying they’re lying, but we’ve really studied these accounts and we’ve come to the conclusion that there are a lot more fake accounts than Twitter is letting on.”

Mr Woods added that allowing bots to proliferate anywhere, be that Twitter or other platforms, can lead to massive fraud that costs billions of dollars – and also provides tools for nations and bad actors to spread misinformation and influence political processes.

A Twitter spokesman said the company typically removed more than one million spam accounts each day, and used both public and private data to determine if an account were real or not.

“Less than 5 per cent of reported quarterly monetisable daily active usage or users (mDAU) are spam accounts,” the spokesman said.

“Twitter defines mDAU as people, organisations, or other accounts who logged in or were otherwise authenticated and accessed Twitter on any given day through Twitter.com, Twitter applications that are able to show ads, or paid Twitter products, including subscription.”

Mr Woods’ career began 30 years ago as a policeman in Phoenix, Arizona, and he eventually became an FBI agent and then a CIA cyber operations officer, before his current role as F5’s global head of intelligence.

He said the biggest misconception about those government agencies was that there was a “Jason Bourne”-type officer who did everything.

“Jason Bourne does not exist inside the CIA,” he said.

“In order for a team to accomplish everything that someone like Jason Bourne does, it takes a couple dozen people.

“You have somebody who specialises in lock defeat. You have somebody who specialises in alarm defeat. You have somebody who specialises in flaps and seals, and all they do is open packages and reseal them in such a way that nobody can tell they’ve ever been opened or resealed.

“There are dozens of other roles, of people with very specialised skills. There’s not one guy that does all those things; it’s a team of two dozen people.”

He added that the best way for Australia to address its current cyber security skills gap was for businesses to stop caring about university degrees.

“Oftentimes applicants went to Stanford and have a masters in computer science, which is impressive on paper, but I was more inclined to hire somebody who doesn’t have any degree, they’re entirely self taught and learn the science because they love it, not because they’re graded on it,” he said.

“One of the questions I like to ask is ‘how many computers do you have?’, and if they say one I’m less interested. But if someone says they have nine, that’s a far better indication of passion for the trade than getting good grades at Stanford.”

So is this about Jack or about the cia undercover operation............ to control the world?

So 44 B drops to 8.8 B......... how much did Elon liquidate?
 

gnome

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So is this about Jack or about the cia undercover operation............ to control the world?
It's mostly just about random "cyber experts" trying to grab their 15 minutes of fame.
 

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So is this about Jack or about the cia undercover operation............ to control the world?

So 44 B drops to 8.8 B......... how much did Elon liquidate?
True…good excuse to sale some Tesla stock at highs without raising red flags.
 

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Pretty soon they’re going to have to make an offer to Elon to take the sinking ship off their hands ;)
 

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Twitter whistleblower to testify in Congress over damning security revelations​

Twitter’s former security chief Peiter “Mudge” Zatko will testify in Congress next month after he went public with damning allegations about the social media company’s security practices and attempts to mislead regulators, the Washington Post reports. Zatko is scheduled to speak at a hearing on September 13th and is expected to address the privacy and national security concerns raised in his complaint.

“Mr. Zatko’s allegations of widespread security failures and foreign state actor interference at Twitter raise serious concerns,” said the chair of the Senate Judiciary Committee Senator Richard J. Durbin (D-Ill) and the committee top Republican Senator Charles E. Grassley (R-Iowa) in a joint statement. “If these claims are accurate, they may show dangerous data privacy and security risks for Twitter users around the world.”

Zatko has already met privately with Judiciary Committee staff, and has had three meetings on Capitol Hill, according to the Washington Post reports.

“If these claims are accurate, they may show dangerous data privacy and security risks for Twitter users”


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