Twitter hack stresses the need for Cyber Security laws for e-commerce. On Monday, Twitter faced its biggest hacking attack, with $100,000 being swindled by fraudsters within a few hours. And Twitter having to suspend services for some time.
The source of the attack is yet unknown and Twitter is to announce. Whether it was a vulnerability in the system. Which led to the attack, given the extent of the attack. Also it is clear that hackers somehow got control of Twitter’s internal servers to initiate the attack.
Several prominent accounts, like @Apple and @Uber, @BarackObama and @elonmusk, started tweeting about doubling money within 30 minutes if people clicked on a link and paid to purchase bitcoins. Even when Twitter deleted such tweets, the accounts tweeted again within minutes.
The Verge reports that shutting down of service also meant confusion regarding tornado warning. National Weather Service in Lincoln, Illinois, had tweeted a tornado warning before going dark, and could not update account because of the shutdown.
The need for cybersecurity laws for E-commerce has been discussed extensively by the world. America and the EU have stringent laws from which various other countries are drafting their framework.
India is still to come out with a national cybersecurity policy or mandate companies to do such checks. The Personal Data Protection Bill, 2019 is currently tabled in the parliament. Therefore, the Twitter hack stresses the need for Cyber Security laws for e-commerce.