- Digital authentication solutions provider Twilio Inc TWLO said a scheme by which outsiders duped employees into handing over their passwords hacked some of its employees' and customers' accounts.
- Twilio became aware of the incident on August 4.
- "This broad-based attack against our employee base succeeded in fooling some employees into providing their credentials," Twilio said.
- "The attackers then used the stolen credentials to gain access to some of our internal systems, where they were able to access certain customer data."
- Twilio hired a computer forensics firm to identify the hackers and assist in the remediation of the breach.
- According to experts, in the past three days, hackers targeted companies providing two-factor authentication services to steal cryptocurrency, compromise telecommunications companies, and breach customer relationship management portals, Bloomberg reports.
- "The social engineering method to gain access to credentials via text message to log in as the user and then steal data is becoming more common," said an expert.
- Earlier this year, hackers compromised the two-factor authentication provider Okta, Inc OKTA, Microsoft Corp MSFT, and Nvidia Corp NVDA.
- Price Action: TWLO shares traded lower by 1.67% at $85.04 in the premarket on the last check Tuesday.
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