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SOCIAL MEDIA

Twitter: Hack hit 130 accounts, company’s ‘embarrassed’

Twitter said the hack that compromised the accounts of some high-profile users targeted 130 people. The hackers were able to reset the passwords of 45 of those accounts. The company said that for up to eight of these accounts, the attackers also downloaded the account information through the “Your Twitter Data” tool. None of the eight were verified accounts, Twitter said, adding that it is contacting the affected users. “We’re embarrassed, we’re disappointed, and more than anything, we’re sorry. We know that we must work to regain your trust, and we will support all efforts to bring the perpetrators to justice,” Twitter said in a blog post. Friday’s attack affected world leaders, celebrities, and tech moguls. The attackers sent out tweets from the accounts of the public figures, offering to send $2,000 for every $1,000 sent to an anonymous Bitcoin address. Allison Nixon, chief research officer at the cybersecurity firm 221B, said the hackers appear to have come from the “OG” community, a group interested in original, short Twitter handles such as @a, @b or @c. ‘‘Based upon what we have seen, the motivation . . . is similar to previous incidents we have observed in the OG community — a combination of financial incentive, technical bragging rights, challenge, and disruption,” Nixon wrote. She described the OG community as “a loosely organized group of serial fraudsters.” The attack did not appear go further than the Bitcoin ruse but it raised questions about Twitter’s ability to secure its service against election interference and misinformation. — ASSOCIATED PRESS

SOCIAL MEDIA

Report: Disney cuts back on Facebook, Instagram ads

Walt Disney Co. has dramatically slashed its advertising budget on Facebook and Facebook-owned Instagram, The Wall Street Journal reported. The social network is facing a growing advertising boycott over its policies and actions on hate speech. The Journal, citing unnamed sources, said the time frame for Disney’s pullback was not clear. Disney was Facebook’s biggest US advertiser for the first six months of 2020, according to the research firm Pathmatics. Hundreds of companies have paused spending on the service. The report did not say if Disney is officially joining the ad boycott. Some companies, such as Starbucks, are pulling back social media advertising due to hate speech and other concerns but have not officially joined the “Stop Hate for Profit” campaign. The economic fallout from the pandemic has also cut into companies’ advertising budgets. Disney did not immediately respond on Sunday to a message seeking comment. Facebook said it does not comment on individual advertisers but said it invests “billions of dollars each year to keep our community safe and continuously work with outside experts to review and update our policies.” — ASSOCIATED PRESS

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Low prices are crucial for luring pot consumers away from illicit market, businessman says

Low-priced cannabis products will be key to converting consumers from the illicit market to the legal market, but once that’s done they’ll be willing to spend more on pricier items like vape pens and edibles, according to Aurora Cannabis Inc.’s new chief commercial officer. Cannabis is “unlike tobacco or alcohol because of the presence of this massive black market,” said Miguel Martin. Some Canadian companies were caught off guard last winter by strong demand for low-priced flower and had to rush to develop new offerings. In February, Aurora said its market share in flower declined in the prior quarter “as the market shifted significantly toward value brands,” and announced the launch of Daily Special, a cheaper product designed to “compete strongly with the gray market and help grow the overall size of the legal segment.” However, the cannabis market changes rapidly and “what’s popular today may not be popular tomorrow,” said Martin. — BLOOMBERG NEWS

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