Proactive Investors - Twitter today denied that hackers, who overnight posted over 200mln user account details, garnered the information through a breach of the website's security system.
“The data is likely a collection of data already publicly available online through different sources” the social media site said.
But Twitter is not the only recent victim of corporate cyberattacks.
Royal Mail (LON:IDSI) was today still urging customers to avoid posting internationally due to a “cyber incident”, with the postie avoiding referring to it as a cyberattack.
Royal Mail unable to send letters and parcels internationally due to a cyber incident
The Guardian meanwhile confirmed it suffered a “highly sophisticated cyberattack” on its UK staff last month.
UK manufacturer, Morgan Advanced Materials also “detected unauthorised activity on its network” earlier this week.
The rise in attacks reiterates the importance of cyber security, not only to protect businesses but its customers.
Yet, cyber security stocks like many big tech companies continue to struggle.
Darktrace PLC (LON:DARK), a cyber defence organisation, revealed it expects slower revenue growth leading to its share price falling below the IPO price of 250p.
UK-based Crossword Cybersecurity (18.5p) is down 51% in the last year and California-based SentinelOne (US$14.40) fell 69% in the same period.
“Despite {earnings] multiple contraction in 2022,” researchers at Jefferies believe cyber security values will suffer in the first half of 2023 “in response to deteriorating macro.”
The bank believes the sector will “potentially rebound in the second half of 2023 driven by focus shifting to reacceleration at some point in 2024.”